Gold And The Dollar
Yesterday I pointed out with a falling dollar, gold and the rest of the metals should rally, well today they all moved higher.
Gold was up $10.20 for the June contract while Silver was up 23.50 cents for the May contract. Copper, platinum and Palladium were all up today as well.
Looking at the above chart you can see that GLD is close to making new highs for the year. I think if the dollar stays weak, there is a good chance that gold will rally up to last year's high which was made in May.
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![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
2 comments:
With respect to the oveall u.s. market. I am hearing more and more 2008 will be a bad year for the markets. They also say the market looks ahead 6 months , therefore would it not make sense to think the later part ( the remaining 6 months ) will be lack lustre for the markets ?
Hi Tasko,
I think remaining 6 months will be volatile. The NASDAQ has been in a range and is due to breakout and when it does, I'm sure we will see some trend develop. Even if the overall U.S. Market does remain lackluster for the rest of the year, there are many sectors that are trending.
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