Oh, the wailing and gnashing of goldbug teeth over the last couple of weeks as Greece has imploded but their preciousssssssssss metal hasn’t made them any money. Just not jolly well fair is it chaps?
Anyway, good news for you. As of this week gold should start moving up and bring you all some hoorah. The reason? The real safe haven, the US dollar, can’t move up muchy further and those wishing to stash cash away from Euro exposure will need to find somewhere else. So, expect the dollar to roughly flatline and due to that, gold should start catching a modest bid or two, perhaps up to U$1,185/oz.
UPDATE: Yes you’re right, this was posted at 10:47am local time when gold was trading at U$1,165/oz. Why do you ask?