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Monday, January 09, 2006 8:37:17 PM
Double top forming in Yen/Gold
At least in the ST if this does prove to be a double top and head signifcantly lower I suspect gold in US Dollar terms will follow. Coxe has made the stipulation that much of the physical buying for this last rally came out of Japan due to the Yen falling. I tend to agree that it's a factor. How much I can't say Not sure if this will be an IT or just a ST top, but right now this would equate to a top in US Dollar terms around 570.
At least in the ST if this does prove to be a double top and head signifcantly lower I suspect gold in US Dollar terms will follow. Coxe has made the stipulation that much of the physical buying for this last rally came out of Japan due to the Yen falling. I tend to agree that it's a factor. How much I can't say Not sure if this will be an IT or just a ST top, but right now this would equate to a top in US Dollar terms around 570.
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