Gold Surge Ends; Deflation Resuming
01/23/15 Weekly Re-Lay Alert: Gold & Silver have fulfilled most of what was expected from their January advances…the majority of indicators are showing that a correction is imminent.
Even the fact the Dollar Index has now reached its 1–2 year upside objective (95.00–96.00/DX) – and the Euro is nearing its 1–2 year downside objective (~1.1000/EC) – corroborate this conclusion (since Gold AND the Dollar have been rallying on Euro weakness). The results of this weekend’s Greek elections could also trigger a knee-jerk reaction… distinguish now as the smart time to exit remaining long positions… with Gold trading between 1290.0–1300.0/GCG. [See Weekly Re-Lay for details, including the overall outlook into mid-2015.]