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Katwomyn

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Calling all gold bugs---dont miss what's going on!

 

The EURO is getting pounded--can it survive? The decoupling between gold in USD and the EURO is unfolding, it has huge implications for Precious Metals.

 

3 charts

 

1. 14 day chart of the EURO

2. 14 day chart of gold in EURO's

3. 14 day chart of gold in USD's

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There is only one sure thing that will come out of this laughable incident: absolutely nothing, and likely as soon as tomorrow we will see Gartman back on CNBC giving people advice about what to do with their money.

Love it!

 

Strangely, I was preparing to admit defeat insofar as unlikely being able to buy at those $1440 I mentioned a week ago. (Not to mention the less probable, yet still worth hoping-for, $1320.) Reading the zerohedge article though, I'm not so sure that I should chase ... It's probably just as wise to follow the old bard's advice and practice "Patience, Iago!"

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The point? Don't confuse short-term volatility with long-term forces. The investor who looks only at today's headlines is prone to making ill-timed decisions.

 

Dont listen/watch CNBC, never follow Gartman--above all study the Fundamentals as to why :excl:

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Spot gold could fiddle around at the mid USD1600 level until the next FOMC meeting on January 25th, when the market will be looking for some action or statement of intentions regarding QE3 from the FOMC.

 

Spot gold prices need a catalyst. (IMO)

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