gold price crashing, page-3

Please don't shoot the messenger:

Gold's Pending Collapse

" I have been a gold bull for over two years, but recently the merging of short, intermediate and long term technical views have indicated a large increase in the potential for a bear break in gold. Moreover, the dollar supported out at a critical fundamental and technical price point and appears prime to correct in the near term. One must look at this as a potential catalyst to determine the near term trend in the dollar and in turn metals. I cannot help but be a metals bear and owe my readers what I always provide - an honest view. Gold will be well below $400 by mid-summer and here's why:

THE US DOLLAR

Because gold is priced in US dollars, and because the US dollar is the focal point of the economic trend shift on a global level, we have recently witnessed an impressive run in metals as the dollar has retraced 33% in less than 3 years. But the trend in the dollar has changed. We are in the midst of a rebound in the US dollar - perhaps to par if not higher. Just look back to my comments back in late November. The signs were all over the place - even then...


Cheers, Skip