Wednesday, February 23, 2011

Third times a Charm

Gold broke through resistance for the third day in a row toady, blowing out $1403 with authority.  Silver has made steady gains too.  Platinum is near the bottom of its range.  The trade is becoming more and more volatile, which means things are speeding up.  Oil is having the dollar stay well below DXY 77.77 too, and 77.77 is the new resistance level for the dollar.

Things are going the way of the gold bug.  Nothing stands in the way of precious metals real worth shining through the long black veil of the dollar.  Every printing press has discovered problems.  Maybe it is time the President's Working Group on Financial Markets shorts ink like they do silver, you know, so they can keep the price down for the Chinese to buy it.  Man those printers, Keynesians!  And ride them until the wheels fall off.

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