The gold bugs can’t be felling very good right now.
The US dollar is ripping, the Fed is about to stop printing and the predictions of doom in the US economy look awfully suspect with unemployment at 5.9%.
The final shoe to drop will be prices.
Gold is down $22 today to $1191 and is now negative on the year. If $1180 goes, it’s curtains it I expect it will be an ugly fall to $1000.
Gold daily chart Oct 3 2014
Update: And for those accusing me of being a Monday morning quarterback, I was recommending to sell gold at $1300, six weeks ago.
