Warned everyone during the Ides of March. Correctly estimated Euro & Gold overvaluation. Suspect that the Eurobulls may have have been long on gold and short on US$. This explains the carnage in both Euros and Gold. With French and now Dutch rejection of Euro Constitution and German murmurings about the viability of the Euro for carnage to continue.
Short, medium and long term technical signals on both Euro and Gold are almost 100% bearish. Maybe close to a bottom with a gold test of US411 to signal a bottom. IF this level does not hold we will see more substantial carnage in Aussie golds. The risk factor on holding gold shares now is still way too high.
