GOLD IN EURO TERMS

The last several months have put too much focus on the US perspective. The gold price has consolidated in euro terms. The real fireworks for gold lie ahead. The COMEX gold & silver markets are certain to endure major assaults. Their phony low price invites heavy demand, if not destruction much like an outstretched rubber band. The swallow of the bitter hyper-inflation pill will assure the rise in gold price. The engines are revving still at 10 thousand RPMs, as gold watchers await the price inflation skidmarks on the economic tires. They are coming. Patience has been sorely tested. With the shift of power away from the US and toward Europe in the Western world, the price of gold should be viewed more often in euro terms. It has not fallen badly, but instead has consolidated. The bullish divergence is clear. A U-shaped reversal pattern requires a move above 650 euros to ignite a rally. Before long, gold will run up in all currencies.