don’t write off gold just yet , page-3

Gold had a fantastic run fulled by expectations that central bankers were being irresponsible before the crisis, during the crises and post crises and that, of course, a collapse of the euro was unavoidable.

With people starting to realize:

1) that Ben & Co. not only have not been irresponsible, but also do not intend to become so as shown by their willingness to remove the punch bowl even somehow prematurely; and

2) that Germany, as pointed out by Soros, is showing a consistent willingness to do the very minimum to save the euro;

inevitably that the price of gold started migrating South.

And unless these two main drivers of the gold price change course I, for one, don't see any hope for the pog to recover soon.