Comments: The Chart just looks sick. There is no end in sight to the selling and unclear whether there are any supports until HUI goes lower. The interesting thing is that the USD Index hasn't gone anywhere recently, but gold still continues selling. In a sense, it's like last year when Gold decoupled around September from the USD Index, only this time that decoupling has meant that Gold falls while USD stays roughly the same. The crazy thing about today's crazy $20 sell off in Gold is that the USD Index also was marginally lower.
Thursday, September 14, 2006
HUI Chart & Commentary
Comments: The Chart just looks sick. There is no end in sight to the selling and unclear whether there are any supports until HUI goes lower. The interesting thing is that the USD Index hasn't gone anywhere recently, but gold still continues selling. In a sense, it's like last year when Gold decoupled around September from the USD Index, only this time that decoupling has meant that Gold falls while USD stays roughly the same. The crazy thing about today's crazy $20 sell off in Gold is that the USD Index also was marginally lower.
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