The dollar is a weak currency, but so is the euro. So, I think they will go down both against price of gold let put it this way. But we had a breakout move in gold yesterday and it’s important that we continue now on the upside and not that we breakdown again because then that would be a failure and then quite a reaction could follow.
Related: SPDR Gold Trust (ETF) (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Newmont Mining Corporation (NYSE:NEM), AngloGold Ashanti Limited (ADR) (NYSE:AU), Harmony Gold Mining Co. (ADR) (NYSE:HMY), Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), Barrick Gold Corporation (USA) (NYSE:ABX)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
