Archived IMT (2010.04.07)

ONE REASON WE MUST WATCH GOLDs rally is that it is surging to second consecutive daily record high in EURO TERMS (GOLD/EUR), now at 855, while GOLD IN YEN TERMS is testing the January 11 high of Yen 107,000, which may suggest a topping formation in the metal as has been the case each time it neared record highs against non-USD currencies. GOLD/USD hits $1140, which is just below the Mar 3 high of 1145. Those who have access to GOLD vs. AUD, the metal is testing the previous failed points of AUD 1230, seen on Mar 28, 17 and 16. A close above 1143 in GOLDUSD could pave the way for 1157.