Mostly: Classical

[amarksp]

gold vs. foreign currencies - Turk

http://goldmoney.com/en/commentary.php


I focused therein on gold in terms of the Swiss, euro and yen. These have been the strongest currencies, so gold has not climbed as much against them as it has against the US dollar or British pound. But there is an important observation to be made here. When the strongest currency can no longer keep up with gold (or in other words, when gold finally breaks out of its base against that currency), then gold's bull market will start in earnest. And we are very near to that point.

My conclusion in the October 11th alert was: "I think it is now reasonable to conclude that gold will break out of these saucer patterns to the upside either this month or next." There is only one week left for this projection to be proven accurate. Will gold climb against all the world's major currencies this week and breakout against the Swiss franc, euro and yen?

Of course no one knows. But even if my timing is off by a week or two, it doesn't matter. What matters is that the trend for gold remains up, not only in terms of the US dollar, but also for all the major currencies of the world. This observation is key because when gold does finally breakout of its base in Swiss francs, euros, and yen, then - as I said in my October 11th alert - "It will be an event that every gold bull is waiting for because it will reflect a flight out of fiat national currency into the safety and security of gold."