We’re going to take a look first at the gold market, and I always like when you look up here and I’II start there because that gives you the time that I’m doing this and everything else in the markets. Obviously, you can see on a weekly basis. If we were to close right here, it’s an all-time high on a closing basis. When you look at what the market did, it’s another week, it’s another set of new highs. So gold is broken out of all this; made a run.
Even if it were to break hard, I don’t think there’s monstrous decay on the downside because nobody’s buying into the fact yet that shelter costs and others are falling; we still have the inflation scenario. You got to keep looking over your shoulder. Yes, it’ll fall but not gallop to the downside and if the dollar weakens a lot and these other fed cuts come in, then gold gets that part of it going forward, plus world events.
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