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Looks Like Gold Bull Market is Wanting to Reassert Itself

July 4, 2004

The gold chart below is clearly in a bull trend is bouncing up off rising trendline (Note most recent new high)

Unfortunately, this is not "good" news (for the US stock market).

Don't like the action of the US Dollar, and don't like the fact that the US dollar (and US economy) is now extremely vulnerable to capital withdrawal (Note that 70% of Direct Foreign Investment in the USA is now in the form of "fickle" money.

I think we may be facing a US Market Crash. Note the falling volume on rising prices in the Dow Jones, and note how the Dow is now coming to the Apex of a triangle.

Could be any time in the next few months.

USA has the world’s largest holdings of gold: 8,134 - representing 77% of its Total Foreign Reserves.
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