A Week of Significant Breakouts

There were significant breakouts last week for the US dollar and the precious metals, but they were of course moving in opposite directions. The dollar dropped, while gold and silver climbed higher.

The Dollar Index ended the week at 82.13. It is important to note that it finally broke below 82.45 and therefore made a new 2-year low.

The Dollar Index is now pointed toward its all-time low of 80.53, which is only 160 ticks away, or less than 2%. It won't be long I expect before that low is broken too, after which the dollar will collapse. Are you ready?

The best way to get ready is to be out of dollars, and own the precious metals instead.

Both gold and silver climbed last week. Both of the precious metals are poised to break into new multi-decade highs, as the dollar falls toward its record low.

Published by GoldMoney
Copyright © 2007. All rights reserved.
Edited by James Turk, alert@goldmoney.com

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