Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

Zeev...

I agree with both your call on the dollar and on gold, but think both may be delayed a bit until this rally is over. At the moment, I look for AG to try to take the markets higher which implies he will need to support the $USD, and that would hold gold down. Possibly all the $USD needs for a short term support at the 95-96 area vs the $USD index is for the Fed to hold on rates today.

Longer term, the $USD has to go lower simply due to overwhelming fundamentals and that will take gold higher - just as the markets will be driven back down for similar overwhelming fundamental reasons. The Greenspan Gambit will fail, but to date it is still in play.

As always, just my opinion and I am no virgin at being mistaken.

mlsoft