We have been calling for a potential imminent waterfall type collapse in the US dollar.
It looks like we may be seeing the initial stages of this collapse today. The dollar sunk throughout today's session, dropping below 75 near the end of the session to make a weekly close at 74.86. Gold and silver responded by vaulting higher during access market trading, with gold closing at a new all time high of $1476, and silver closing at a multi-decade high of $40.95.
Words cannot articulate how horrendous this technical action is in the dollar, which will now rapidly test all-time lows near 72 before the end of April, and possibly as soon as next week. The dollar's collapse will intensify gold and silver's runs.
The fat lady is done singing folks, the ballgame is over for the US dollar. Game ended by means of mercy rule. We hope you are already 100% in gold and silver positions. We are nearing a panic collapse...and one day soon, Monday morning will be too late to extricate yourself from any remaining US dollar positions.
DOLLAR INDEX SPOT (DXY:IND)
Last Update:
-0.963%
VALUE: 74.855 USD
| US Dollar Summary 4/8/2011 | |||
|---|---|---|---|
| Value | 74.86 | ||
| Change | -0.728 (-0.963%) | ||
| Open | 75.59 | ||
| High | 75.61 | ||
| Low | 74.84 | ||
