Markets Index Gold $646 dn-5 - NY Jump & Dive.
Gold swings on the NY are very swift, and usual confusion on the next direction and therefore Crude Oil and the US Dollar. They are "all in the family" ala Archie Bunker. I liked that chap, reminded me of my Uncle Bill West.
Last report on Gold was Mar.5th then $635 hitting a high at $692. just missing my upside target of $696 given to you a month previous. No kidding? My downside target was $640 and we have come off a low at $634 missing my target again, by $6, a pity really.
So you can see why gold is nervous like a bungee jumper, but the chart and math direction look positive, just watch for it. Negative for the dollar. In the mean time, back at the OK Coral, Crude jumped up to $61.77 and down only -0.13, after hitting a high $63.38 intraday, that almost hit a major math resistance at $64, the square of 8. Lots of talk on the "news" about the high price of gas and you know "the rest of the story", downfrom here. When crude hit may down side target $49, hitting $49.85, I was shocked to miss again. A pity! Anyway, gas was then $2.17 and now $2.58, a gain of $0.41or +19%. You are now advised not to full-up but to top-upyour gasoline tank as required. I have now cut down my driving and at the computer more, as with this report.
US Dollar at $84.25, in the shadow of both, mainly Gold, looks very tired holding up while the moving averages quickly retreat like home prices. Charlton Capital Ltd. 618 all the way. Chart here by www.kitco.com