Gold Prices Surge, Top $1,270

Gold prices were popping Tuesday as investors turned to gold as safe-haven asset after a slew of disappointing economic data.

What about the dollar's safe haven status? This gold hype will attacked by the spinsters, agnostic about gold at much lower prices, through the use of labels, fear, and misdirection. Meanwhile, the secular trend continues to plow ahead without or without the spinsters' support.

Jim is right, gold doesn't need consensus approval to run.

Many emails have come in saying there is no way gold can go to $1650 by January. My response to those people is you are WRONG, it can.

Many emails have come in saying the dollar is a safe haven and that I am wrong, it will never see .7200 and lower. My response to those people is you are WRONG, it can.

Many were offended for some reason when I drew the comparison between now and 1979. My response to those people is you are WRONG, the comparison is valid.

I am on my way to the Middle East and Africa, but will not be out of contact.

Respectfully,
Jim

Careful about saying never to an unexpected run. I have said this many time before, the setup while not identical is eerily similar.

Gold, London P.M. Fixed:


Back on July 10th, I finished the Bullish Money Flows in Gold with the following question: Are you ready for the unexpected?

Well, are you?

Source: finance.yahoo.com