Now, readers please bear in mind the above paragraph is written by an advocate of gold as a value storage instrument, not a price appreciation instrument. It is just that all the price appreciation the relic has done since Prechter's original (again, in my experience) "gold will not rise above 350" is kind of like gravy.
In spite of this, I recommend people get up to speed on Prechter's general views on deflation and I honestly tell you that I read everything EWI puts out for free, although I no longer subscribe to their services.
Prechter on Yahoo! Finance: "Even $1 Trillion Can't Save the Euro, But Gold is No Safe Haven"
The euro's recent loss has been the dollar's gain, which means that it's not the best time to buy the U.S. dollar. Meanwhile, the most popular alternative to currencies, gold, isn't such a good buy either. Watch the second excerpt from Robert Prechter's May 20 interview with Yahoo! Finance Tech Ticker host Aaron Task to hear what Prechter thinks is in store for the U.S. currency and gold.
For more information from Robert Prechter, download a FREE 10-page issue of the Elliott Wave Theorist. It challenges current recovery hype with hard facts, independent analysis, and insightful charts. You'll find out why the worst is NOT over and what you can do to safeguard your financial future. Hurry! This free offer expires June 7.