Sydneysider, if you look at the 10yr gold chart I believe it would still be in an uptrend if it fell to as low as about US$600. This price fall is no doubt a result of a continuation of the deleveraging that has been going on with further funds moving into US treasuries, thus boosting the US$ again etc. I was reading an article only 2 or 3 days ago indicating this was likely to happen as hedge funds are still holding considerable amounts of stock that were likely to be required to be liquidated. All this will come to an end though & then we can expect to see a fall in the US$ & a rise in the value of precious metals. It's not over by a long shot yet!
CTO Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
