POG has fallen not because of some chart movement but because of...

POG has fallen not because of some chart movement but because of an economic event! FUNDAMENTALS DRIVE THE MARKET and drive your charts!

1. QEIII is temporarily off the table.

2. Gold price has accelerated above its long term average in Q4 2011 due to fears of a potential banking collapse in the EU, which would have caused a financial collapse around the world. Hence a race to a safe haven asset like gold.

After the ECB released 529Billion Euros to the European Banks, this potential banking collapse was off the table. And these gold purchase positions were reversed.

But the long term gold price trend continues.

Enjoy your weekend ladies!