US$ Gold took a very major hit to-day. Notwithstanding all of...

US$ Gold took a very major hit to-day. Notwithstanding all of the comments about the massive printing of US$ the gold price has "tanked" to the point where even the 200 day moving average has turned down (about a month ago). Looking at monthly COMEX Gold Chart it is obvious that the long term up trend has fallen apart, assuming that we have a top in place we have some pretty bearish projections to the downside. CTO stock price is now trying to run against the tide.

The major U.S. listed goldstocks are all suffering from major liquidation and many have dropped out of trends to the downside. This also runs against the theory that the US$ is headed for a major collapse. CTO needs to do something very spectacular to break away from the bearish tide that engulfs most of the precious metals miners. U need a lot of faith to bet against a fast running tide.