Gold Revisited

There are now approximately six months since I posted my Gold (GD) speculation. Since then Gold has been dropping steadily, re-tracing on a regular basis, though always showing lower lows and lower highs. A typical downward trending movement.

I mentioned that Gould was likely to be heading downward and so it is. Now it’s only a question how far down does it go and will it break through the 1,520 support.

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The End of Gold

Gold (GC) 22. October 2012

Long and Short term charts for Gold (GC) as of 22. October 2012

Gold (GC) has been the favorite of investors since it began to climb the price charts in late 2005, though the rise may be traced back to 2002. The favorite crises commodity was predicted to reach 2,000 dollars, but has so far only just popped over the 1,900 mark. With the tops forming in August and September 2011, the price of gold has not managed to make a firm brake through the 1,800 price tag.

This tunnel, that has been running between 1,520 and 1,800 dollars, has shown some interesting formations.

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