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Gold Peaked, Euro Peaking, Dollar Rallying

Commodities / Gold & Silver Nov 23, 2007 - 11:01 AM GMT

By: Mike_Paulenoff

Commodities Not only does my work tell me that the GLD (Gold ETF) has peaked, it also is telling me the Euro may have hit a signficant high, and is ripe for a significant downside correction, which will pressure the gold as well...Today's conspicuous test of 150.00 is followed by what so far represents a key downside reversal amidst very significant momentum failures to confirm new highs since the 1.4600 area. Caution is the watch-word for the euro vs dollar now, which should impact gold prices negatively in the days ahead.


 

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