Nice chart btw.
Gold price in other currencies have increased (except in Yen) and reached an all time high in October - it's relative.http://www.goldprice.org/gold-price-history.html
e.g: in Australian dollar:
In my opinion, people who lost their money in worthless notes, got scammed with Lehman minibonds may divert the rest of the money to traditional gold investing - the physical. They're going to get the real thing. Fool me once, shame on me, fool me twice shame on you. They can say "You can't eat gold", "Gold will be worthless" whatever.
IBs can manipulate fantasy paper gold futures but eventually the crack will show up.
There is a reason why Goldman Sachs called the short on gold to $650. Same reason why they told people to buy financials in May (yeah what happens afterward). Same reason why they put United States Steel X in the conviction (junk) buy list at $130. Same reason why they called oil to $200 this year. So you know what to do when these clowns recommend anything. I personally believe the longterm trend is up.
I already have the physical and will add more soon. I have DGP @ $13 but only for daytrade.
Originally Posted by StockJock-e
Seeing some USD weakness, this is going to help gold and gold stocks tomorrow.
GDX will be a big winner on this rally.