I am not worried about ECU. I currently have my largest holdings ever in ECU and I am sure it will gain at least 5 x compared to silver. So if silver goes up 25% to $23 by Christmas, I expect to see a minimum $1.30 for ECU by the end of the year.

My expectations on this week were so low that I am pleased with today's action so far. Taylor Durden @ ZeroHedge today;

Gold Goes Vertical As Goldman Reiterrates Harsh QE Expectations

Submitted by Tyler Durden on 08/24/2010 08:55 -0500

Well, we sure hope you, ahem, bought the dip. A $17 vertical move in minutes is an appetizer of what will happen when Bernanke says the wrong word at J-Hole (and he most likely will).

The often ridiculed (for some incomprehensible reason) John Taylor of FX Concepts is once again proven spot on with his EUR top call, which came when the European currency was at 1.33, at about the time when Goldman reinforced its long EURUSD call. A few weeks and 6% lower, here is Goldman explaining what they really meant (again). In a nutshell - despite the transitory economic boost driven by a plunging EUR export-boom is over, Goldman is hopeful the lingering effects will remain forever. And Goldman continues to be very bearish on the dollar, for one simple reason: "Our expectations for sizeable additional QE by the Fed will only add to the Dollar negative mix towards the end of the year." We are waiting for the Jackson Hole announcement with bated breath: rumor is the Chairman has mastered the alchemy process of converting linen to gold, and will commence printing the shiny metal shortly.