Central banker attacks on the saver class > margin requirement hikes.
As Britney would say - hit me one more time.
The only downside at this point in gold, is continued margin requirement hikes. The path forward is clear - and nothing different than what has been done repeatedly (failing) in the past.
As for the market, we've broken the weak support of the 20 day moving average, and now approach a key pivot point the past 3 weeks - S&P 1175. That was the 'top' from three weeks ago, as well as the level we bounced off of early this week.
Friday, September 2, 2011
Debase Me Baby - Gold Continues to Run Despite Margin Requirement Hikes
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows