Archived IMT (2009.01.27)

Technical analysis expert John Murphy currently on Bloomberg TV describing GOLD as his top investment idea for 2009 is an example of what I predicted over the past 2 weeks to be increased media coverage for the metal as it surpassed $830 and $870. We have yet to see a break of $920 for the achievement of $970s. A US consumer confidence figure of below 40 and S&P/Case Schiller Home Price Index y/y decline of at least 17% is likely to intensify gold's rally, especially as equities remain in positive territory.