This is a bit late. It is already weeks since 2007 started. However, it is better late than never.
So what's my predictions?
The gold will be bullish until the third quarter of this year. The same with silver. Sooner than later, the US dollar break out will start, it will not be up, but the direction will be downside.
There are talks that China (with trillions of dollars in reserve) and other countries might diversify their foreign exchange reserves, from predominantly U.S. dollars to Gold and Silver. Countries including Sweden, the United Arab Emirates, Qatar, India and Russia have all announced intentions this year to diversify their reserves away from the dollars. Just ten percent of the forex reserves of these countries, if converted to Gold would be enough to zapped all the current supply of gold anywhere. And this could only mean that, the possibility for gold to go up to stratosphere levels is not remote. Don't ask me for a price, because who knows? 800? 1000, what about 1500.....o.. my... Oh...wow!
On the other hand, Asian currencies will continue so strengthen including the peso. I wish, and for the good of the country, the government should really watch the peso - they should not allow it to go lower than 45.The cushion should start now while it is still at a comfortable level of 48.90.
Hehehehe. This is going to be a very exciting year.
So what's my predictions?
The gold will be bullish until the third quarter of this year. The same with silver. Sooner than later, the US dollar break out will start, it will not be up, but the direction will be downside.
There are talks that China (with trillions of dollars in reserve) and other countries might diversify their foreign exchange reserves, from predominantly U.S. dollars to Gold and Silver. Countries including Sweden, the United Arab Emirates, Qatar, India and Russia have all announced intentions this year to diversify their reserves away from the dollars. Just ten percent of the forex reserves of these countries, if converted to Gold would be enough to zapped all the current supply of gold anywhere. And this could only mean that, the possibility for gold to go up to stratosphere levels is not remote. Don't ask me for a price, because who knows? 800? 1000, what about 1500.....o.. my... Oh...wow!
On the other hand, Asian currencies will continue so strengthen including the peso. I wish, and for the good of the country, the government should really watch the peso - they should not allow it to go lower than 45.The cushion should start now while it is still at a comfortable level of 48.90.
Hehehehe. This is going to be a very exciting year.