The Phaserl


War in Gold Accelerates As US Trading Partners Flee The Dollar

from KingWorldNews:

Ing: “The U.S. jobs numbers hit the gold market and it has now broken $1,200 to the downside. It looks as if gold will retest that $1,180 level, which has been an all-important support point….

“At the same time, the U.S. Dollar Index is trading well above 86 and that has been the major reason for the weakness in gold and the disappointment in gold mining shares.

However, when you look at the strength in the U.S. dollar in technical terms, it is not only overbought, but technicians might note that it is way overextended as far as its relative strength and way above the Bollinger Band. If we look back at 2002, every time the U.S. dollar went above its Bollinger Band, and I believe that happened five times since then, it has quickly reversed itself and gone back to normal.

John Ing Continues @

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2 comments to War in Gold Accelerates As US Trading Partners Flee The Dollar

  • andrew james

    The FED is the buyer of last resort as far as treasury bonds are concerned. With so many countries establishing trade agreements that exclude the dollar just where is this dollar rally coming from and why would the FED halt it at some point? Oh yeah because we have to maintain our exports. So if maintaining our exports was so important then why did the government ship our manufacturing base overseas? The only thing that still makes sense is that QE and metal manipulation is a process that can’t continue forever. Stack em high.

  • Rodster

    The dollar rally is just a reflection of all the other worthless fiat currencies. Which isn’t saying much.

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