Sunday, 7 August 2011
We know that over here, Lord Keynes said that gold was a barbarous relic but he is a dead western economist and he's irrelevant now. It's what the Asians think that matters most.
Robin Griffiths on Jim Puplava's Financial Sense Newshour last weekend:
Technician Robin Griffiths is Bearish on Equities, but Likes Gold
"We know that over here, Lord Keynes said that gold was a barbarous relic but he is a dead western economist and he's irrelevant now. It's what the Asians think that matters most."
Tonight he is proved correct. Gold opens in the Asian market on Sunday night up $20 at a brand new all-time high with a big gap up and a big green candlestick. This gives a jump from $1663 to $1689, so +$26 in 30 seconds. The old high was about $1680.
ABout 4 minutes later, the top of this spike was $1695. Now it has pulled back to about $1685.
Robin Griffiths is proved right in 4 minutes. The Asians evidently want gold!
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