I find Adam's writing rather dry and incomprehensible. However this piece is quite articulate, readable and well written....He is right. The current gold rally is nothing but Dollar Devaluation, there is no big movement into gold going on, if there were, then Gold would be experiencing a rise in other currencies such as the Euro, or CAD but it is not, it's just kinda sitting there getting priced in USD. So being "overbought" is a mattter of perspective....it ISNT overbought technically, that's just a made up technical term.....we are probably experiencing a slight pause before the price of the Dollar continues to erode. Once these so called safe haven's start to dry up, there will be a flight to Gold as "Safe Haven".....that's when the gloves come off and we start to fly!!!! (wow if we're not flying now....I wonder what "flying" is really gonna be like....woooohoooo!!!!
http://www.kitco.com/ind/hamilton/oct222010.html