Why Gold Crashed
by homment | 19.04.2013 | Views: 15
In our March 7, 2013 installment, we explained thatgold is the best measure of the absolute value of fiat money. We also identified five structural factors which have driven US dollar weakness inabsolute terms since 2002.
On March 19, we predicted that gold was due for a correction, within (what we presumed to be) a continuing longterm movement in favor of gold. We promised to identify potential support levels for a long position. We also made a purely technical observation thatthe price wants to test support @ $1442.36, which is the 38.2% retracement of the long term bull wave from October 2008 to September 2011.
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