Gold has broken through the light blue lower trend line in the upper panel. If it closes below the lower trend line, a bear market is confirmed by prices continuing below the low of today. Still, since gold is in a 5-year bull market, I don't count on the gold bugs to stay out for long. I plan to buy gold again soon. The fundamental conditions haven't dissipated that have caused the US Dollar to be the favorite financial instrument world-wide to beat up on. They'll be back!Wednesday, March 19, 2008
Gold Plunges, Breaks Trend Line
Gold has broken through the light blue lower trend line in the upper panel. If it closes below the lower trend line, a bear market is confirmed by prices continuing below the low of today. Still, since gold is in a 5-year bull market, I don't count on the gold bugs to stay out for long. I plan to buy gold again soon. The fundamental conditions haven't dissipated that have caused the US Dollar to be the favorite financial instrument world-wide to beat up on. They'll be back!
