Euro Gold and Rupee Gold
|
Thursday, September 20th
All week, PMs have fought the forces of evil; as they are desperate to prevent the inevitable breakout of the WORLD’S MOST IMPORTANT MARKETS – Euro Gold and Rupee Gold – from breaking above their ALL-TIME HIGHS. Rupee Gold actually did post-QE3 on Thursday, so the Indian government countered by intervening in the currency markets – yet another example of a failed exercise in MONEY PRINTING.
| Market | Price | Day (price) | Day (%) | From ALL-TIME HIGH |
| Euro Gold | 1,367.25 | 9.08 | 0.7% | -0.9% |
| Rupee Gold | 96,048 | 325 | 0.3% | -1.2% |
The news WORLDWIDE is ultra-bullish for PMs in all aspects, and I believe Euro Gold and Rupee Gold will be at new all-time highs shortly. Above $1,790 gold and $37/oz silver, little resistance sits between the PMs and last Fall’s highs. And with the REALITY of collapsing economies ready to retake the spotlight – let alone the U.S. fiscal cliff and debt ceiling debacles – it could be a CRAZY Fall.
Andrew C. ("Ranting Andy") Hoffman, CFA
Marketing Director
Miles Franklin Ltd.
SilverSeek.com
