Gold hit $685 last night. Gold has gone up about $100 in the last 30 days. In the same period, about 1 month, the Dollar has dropped 4 to 6 percent against every major currency in the world. If there is not a major retracement in Gold--not 15 or 20 dollars, but 50 or 60 dollars--and a reversal in the Dollar soon, this could be interesting.

Enkidu

At 11:25 AM Denver time Gold broke through $700. It hasn't been at $700 since 1980. It is backing off a little now**--this is normal. Strange though, it has been trying to retrace all morning, but the retracements are all small, then the buyers get back in and push the price up.

When Gold broke through $600 in April, the price farted around for almost two weeks, before it took off north again. It will be interesting to see what happens now that Gold has broken $700.

The conventional wisdom is that Gold is ripe for a substantial retracement now. The charting confirms this. Maybe as much as $40 bucks.

However...

1. Gold has been making its own rules lately.
2. The fundamentals for Gold rising are so strong that Gold may just keep rising without any strong retracements.

If Gold does not retrace substantially, and roars through $700 on its way North it will cause a substantial ruckus.

Enkidu

** Incidentally, the backing off I mentioned above lasted about 15 seconds.

Gold might be the only way I get my ass back. Seriously, I had boodles of stock in the old-time-sure-thing market (GM, Ford....FORD! Jesus did that tank!)

One day last year I wake up at noon after my usual 5 hours sleep ready to go back to the shop for another glorious evening-night at the sinking ship. The wife tells me over muffins that we lost 20K in just two days when Ford made its debut as junk stock. "Can we afford muffins anymore?"

Might as well stick to precious metals, the US don't make nothing anymore and what little is left is getting sucked down fast.

Gold might be the only way I get my ass back. Seriously, I had boodles of stock in the old-time-sure-thing market (GM, Ford....FORD! Jesus did that tank!)

You sir , are the victim of judaic-globalism . Every reasonable and rational principle has been turned on its head , to facilitate the schemes of the kosher speculators . They don't produce , to create wealth ; they impoverish to transfer wealth .

You sir , are the victim of judaic-globalism

Yep, but I also made the blunder of listening to Dear Old Dad when I got hitched. All the advice that worked for his (WWII) generation has been running backward ever since.

If it was just me I'd have stuck it all under the mattress.

Yep, but I also made the blunder of listening to Dear Old Dad when I got hitched. All the advice that worked for his (WWII) generation has been running backward ever since.

If it was just me I'd have stuck it all under the mattress.

Dear Old Dad was sincere , he could never have predicted the idiocy that would take over this nation .

Primary rules in investing, always be flexible , realize that change is ever happening and no rule holds true forever. Everything is flux, especially in finance.