The Equity markets have rebounded from panic lows, but the derivative WMD maze remains!
Just take a look at the Top 5 !
Kind of puts the G-20 -> IMF's $1Trillion package into perspective. The proposed IMF gold sale of approximately $12Bn is just a drop in the ocean.
No wonder these guys are all for suspending MTM rules or avoiding marking anything to market ( if the market really does exist!)
(David Ferreira)
I've been reading a lot on Gold recently, looking at many charts and also keeping a close eye on currency movements
Here are some excellent graphs on the recent movement in Gold Prices and the USDX. (The USDX graph is explained using Fibonacci retracement levels.)
They are from the Sunshine Profits Website : http://www.sunshineprofits.com/ .
Przemyslaw Radomski's analysis is always excellent. I have been following his essays at KITCO.com http://www.kitco.com/ind/Radomski/mar132009.html
For the moment the $900 level is holding strong. The USD weakened a bit last weak as equity markets the word over rallied. Are we about to see a new downleg in the USD?
Watch this space.
ps: I was initially planning on making some graphs, but these ones were just perfect!
Edit: Just came across this: Gold Prices since Jan 1971 in different currencies
http://www.research.gold.org/
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