A chart:
Sometimes gold mirror-images the broad markets and sometimes it doesn’t, but at the moment and for fairly obvious reasons it’s been the reasonably faithful opposite. The above chart shows that, but also shows how gold got walked down earlier this week.
Now that’s fine by me, I’m not into the spittle-mouthed ranting about The Powers That Be or Bilderberg Grays ruling us carbon based life forms. What it shows me is that there’s more upside left in gold for next week. Maybe 2%, so let’s pencil in U$1,160/oz or 1165. These things wash through quickly when the trader jocks see easyquick money on the table.