GOLD 0.51% $1,391.7 gold futures

watch defense of 78.40 on the us dollar index

  1. 24,765 Posts.
    "The Dollar Index closed Friday at 78.75, not far above its low of 78.40 made in June. Watch this June low. If the Dollar Index makes a new low, I expect the dollar’s decline to accelerate rapidly. A collapse in the dollar may prove to be the spark that sends gold higher, and over $1,000 per ounce."

    "It has been my view that gold will climb above $1,000 this year and stay there. I thought it would happen in the first quarter, and while gold did reach $1,000, it failed to stay there. The next time I expect there will be a different result. Gold will hurdle $1,000 and keep climbing. That moment is rapidly approaching."

    Quotes from James Turk's article "GoldMoney Alert - 26 July 2009 The Summer Doldrums Are Ending" with charts at
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