Gold Easter Egg Hunt
April 6, 2012
By Morris Hubbartt
My technical work continues to paint a dismal future for the dollar. The Fed’s announcement on Tuesday that no further quantitative easing is needed caused the dollar to rally a bit, but on terrible volume.
Volume analysis can be a truth detector for the major trend. What the current US dollar volume tells me is that this rally won’t last, and my analysis of the commercial money group shows them holding and building substantial counter-dollar positions.
Fiat currency should not be your main asset to store wealth in the present situation. Gold and silver are the best places to house your hard-earned money.
While the gold market’s fall has made the headlines, the fact is that the dollar has barely rallied on higher interest rates, just as it barely rallied during the euro crisis. Fundamentally, the dollar is in a bear market that probably will go on for many more years.