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« An opinion from a Chinese reader | Main | Glass Earth Limited: Update »
Tuesday
Nov142006

The HUI: Coiled up and ready to rocket

The HUI is resting just above its own 200-Day Moving Average and in our view preparing for a much bigger move upwards than anyone expects.

hui1


We think that there will be some sideways movement over the next week or two as the market absorbs the election results and tries to figure out the effect of the Democratic parties success.

The Plunge Protection Team will try to keep a cap on gold prices in a managed way. It is not in their interests to have gold going to the moon, not just yet. However in our experience trying to manipulate the market is like buying trouble, sooner or later the tide will come in, we are only talking about when and how far it will go.

The Chinese are now sitting on a trillion bucks and have stated that they have a plan for diversification. Any percent of that amount of money going into gold will have a dramatic effect on the price of gold.

Hold and accumulate on dips that is strategy for now. Hang on in there gold is going to surprise us very soon.

14 November 2006

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