"Over the past week, spot future Comex Gold has had its best weekly rise for five months, rising from $US 395.60 to $412.70. That's a rise of $US 17.10 or 4.32%."
Buckner's site, with its powerful charting capabilities, is among the most dramatic examples of a newsletter adapting to the Internet. He went on to penetratingly remark:
"But that's not all. Here is the movement of the gold price in ten selected currencies this week, arranged in order of the magnitude of the upmove:" -- and followed with a table showing gold moved significantly last week against all the major currencies except the yen (He didn't bother with the Chinese yuan). ===============================================================
I don't follow the ten currencies that The Privateer does, but I've been very encouraged by the increasingly bullish look of gold since the beginning of March when measured on the charts of the currencies that I do follow closely.
Only when measured in Yen terms has it failed to join the party. In my view, it is just a matter of time until gold is enjoying a bull market in all currencies. This, of course, should encourage greater foreign buying of gold and gold shares. Ka-Ching! <vbg>
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