Vindication

The analysis in the previous post has been vindicated.

The correction of the price of Gold was exagerated and ultimately it was countered by the movement in currencies as I had predicted. The Dollar hit new lows against the Euro and the British Pound. The Terrorist attacks might have helped as most journalists analised it, but I am not so sure because the geopolitical factor does not impact Gold so much these days.

Now, the Gold Price is at 655,95 and has gained more than 13 $ since June 26th which proved to be the latest Low point.

But paradoxically, after this rally I am not so confident that it is going to continue. We are at a turning point for Gold, but it might go sideways a little longer.

We're going to have to analyse the currency movement a little more before drawing conclusions. It has proved to be the real guide for Gold price.

I am preparing my own little Dollar index to measure how the Dollar (and thus, "a contrario" Gold Price) fares against the most important currencies.

More on that later.