Quote

Aden Forecast "Gold is still strong and the D decline has yet to begin."

ReportGold
Date07/14/2010
Loaded Date07/15/2010
TitleMarkets Bouncing Up
Quote"The markets continued to bounce up nicely this week. And even though today was a pause day, the markets are poised to rise further.

The U.S. dollar and the gold price are now finally starting to move in opposite directions once again. The Dollar Index closed at a 10-week low today as it fell below its 15-week moving average for the first time this year, while the gold price moved up and it's holding above its 15-week moving average. This is bullish for gold because it's now back in sync and moving with the euro. This week's jump shows potential for the euro, which is now strong above 1.2700. The Australian dollar is bouncing up the best along with its big increase in consumer confidence. It's now very strong above .8700. The Kiwi, Swiss franc and British pound are also looking good, while the Canadian dollar is holding firmly above .9600. Keep your currencies and we may be buying more soon.

With the gold price holding firmly above $1,195, it's saying gold is still strong and the D decline has yet to begin. Silver and gold shares are also holding up and they're firm above $17.90 and 450 for the HUI index."