Based on the above chart, GLD must retrace its path back to its support line.
Currently, GOLD is holding out well with respect to all the commodities. Remember during the 2008 slowdown, Gold fell too. The full force of the slowdown has not been experienced so far.
I am anticipating large fall in Gold price.
Gold primarily driven by the underlying demand from Customers who see value in it. Whenever the Gold price reaches beyond the common man purchasing power it falls automatically.
What we are experience now is the first leg of recognition.
Currently, GOLD is holding out well with respect to all the commodities. Remember during the 2008 slowdown, Gold fell too. The full force of the slowdown has not been experienced so far.
I am anticipating large fall in Gold price.
Gold primarily driven by the underlying demand from Customers who see value in it. Whenever the Gold price reaches beyond the common man purchasing power it falls automatically.
What we are experience now is the first leg of recognition.