Thursday, April 24, 2014

Well, gold is boned

Gold just did this:

Which is unfortunate because keeping above $1280 was kinda important for the chart:

That's broken support, boys!

It'll be interesting to see how the gold miners do today - will they break support as well? Or will people assume gold is just going down to $1260 or so? There seems to have been a lot of past volume at that price.

And -ahem- how will Goldman Sachs' new gold miner buy recommendations perform today?


  1. This is great news for the doomer goldbloggers. Any 1% or so drop is all that's needed for another round of angry rants about the Crimenex, anti-gold conspiracies, the imminent collapse of the US dollar and massive repudiation of worthless debt, and please resubscribe to my newsletter because when have I ever steered you utterly wrong except maybe since oh, 2011 or so?