posted Jun 7, 2005 at 08:52PM
There is no shortage of bullish analysis for the USD. The commericals however seem to be having none of that, amassing a record high short position.
Brady Willet in the article below has some compelling arguments which show that the USD is in for some rough sledding.
As stated in this past weekend's commentary, with the Euro now suspect, gold should really benifit from any USD weakness now.
Indeed I expect to see bullion rise in terms of both USD and the Euro (obviously at a slower rate with the Euro but none the less)
Commercial's Seek Hiding Dollar Bear by Brady Willett