Quote

Aden Forecast ". . .dollar gives way to gold."

ReportGold
Date06/16/2010
Loaded Date06/17/2010
TitleRebound Finally Underway
Quote"All of the markets are now moving up. The anticipated rebound rises are finally underway and the markets are poised to rise further. Continue to hold your current positions. These up moves will provide a good opportunity to lighten up or sell at better prices, if need be. So stay in touch.

The gold price is holding firm near the highs, while the resource and energy markets rise from the lows. Gold and the U.S. dollar had been moving up together this year, but this is now ending as the dollar index declines while the markets rebound.

We've felt it's just a matter of time before the dollar gives way to gold, and it's now happening. The chart shows that gold is holding clearly above its 5-week moving average, while the dollar has now closed below its average. This direction will strengthen with gold staying above $1215 and the dollar index below 87.

The gold price has been rising steadily for 12 weeks now. If it closes above its record high posted last week, above $1246, we could still possibly see $1300 gold before this intermediate C rise is over. Silver is holding firm by staying above $17.90. The key now is to see if the May 12 high can be bettered. A close above $19.70, and then above the $21 level, could cause silver to jump up. Our gold and silver positions are doing fine, they're strong and we recommend keeping them. The gold share indices are at a 4-week high today. The XAU index is solid above 173 and it would be super strong above 186.

Platinum and palladium are moving more like the resource sector… A renewed rise is starting if they can now stay above $1,560 and $460, respectively. Keep your positions."

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06/18/2010 Morning Star Gold NL