Gold Beginning To Move
A few days ago I commented that gold and gold stocks may begin to move higher and today we saw both gold and silver rally.
The HUI index is also beginning to move higher now and seems to be slightly stronger than gold. I think one of the reasons why gold may rally here is because the dollar will sell off in my opinion.
I am long SLV, GLD and a few gold stocks. On my other blog I am long the British pound , Aussie dollar and bearish on the U.S. Dollar. You can read why I feel the dollar may be topping out by reading my posts at this link.
If I'm right about the U.S. Dollar, I'll most likely do well on all of my positions, but if I am wrong about the dollar this could get ugly for me. So far all of these positions are showing a profit. We'll see how things unfold.
Posts
![[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:
Kevin,
Since you are bearish on the US dollar, does it also mean that long-term (more than 6 months out), are you bearish on the long bonds also? I know short-term (within the next 3 months) you are expecting the bonds to rally. How would you typically play this? Long on the bonds short-term and bearish on the dollars on the long term? Also thanks for the heads up on the bond play. I made a good 20% return in 4 days playing the TLT july options. Great call.
Hi Mike,
It begins to get real confusing trying to forecast 3 months out, then 6 months out...
I'm playing this by being long commodities (bearish dollar) and looking for bonds to rally now.
I'm glad u made some monmey on your TLT calls.
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