Hotazel,Not looking too perky for Australian gold stocks...

Hotazel,

Not looking too perky for Australian gold stocks Monday.

Gold is all about support levels, when those support levels get smashed, sentiment changes very quickly, even if we get a good bounce from an over sold position ( and we should) I would not look at Gold being able to sustain it, fundamentals have ceased to have a lot of effect to the upside for Gold.

I hope I am wrong, I have been before and no doubt will be again, I sold all my Gold stocks when I saw the market was having difficulty sustaining $1600 as I saw that as a critical confidence level, still, I don't like seeing Gold stocks hammered when I suspect it is due to manipulation.

Good luck, perhaps Cyprus will bail on the Euro or a major bank will go bust, that would be pro Gold.

DYOR, I make wild guesses.