If you look at the long term picture of gold, gold is still up. Keep in mind that no market goes straight up and gold is still up 15% for the year. Nothing has changed long term and it is only short term changes that are currently happening.
Wednesday, December 14, 2011
James M. Carrillo
Both technically and fundamentally there is no damage to gold when you view the long term trends, the opposite is the truth! This appears to be nothing more than a shakeout. The trend is not only fully intact but as strong as it can be. Remember NO market goes straight up. The same cannot be said for other markets as the S&P500 is technically broken on the long term technicals and I believe the fundamentals support this as well. As the old saying goes "DO NOT MISS THE FOREST FOR THE TREES" In other words don't get so caught up in what is in front of your face that you miss what lies ahead!
As you can clearly see the long term trend, this appears to be nothing more than a healthy digestion or consolodation of gains, this actually prolongs the long term trend as it builds a new support area.
Be a buyer, nothing has changed long term, the only pain is for the short term speculators. We recommend systematic accumulation, paper currencies are being diluted by governments who are printing massive amounts of cash to paper over debt. Gold can NOT be printed and has no debts or liabilities.
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