2013 LOW IN SIGHT FOR SUPPORT OTHERWISE $1,108 DOWNSIDE TARGET 2
Gold seen support, forming a triple bottom near 2013's low, which still remains solid support. $1,239 still remains an intermediate target before higher longer-term resistance levels are reached.
In my opinion, given the overall bearishness, if the economy and such was so remarkable, gold would have sank by now. Even four-year highs on the DX couldn't send it before. Gold, for lack of a better term, is a hedge against central bank and government idiocy, which has reach historical levels.
Gold is a means to an end. Ralph Waldo Emerson said "the desire of gold is not for gold. It is for the means of freedom." Goldman Sachs won't scare realists from a real asset.
In my opinion, given the overall bearishness, if the economy and such was so remarkable, gold would have sank by now. Even four-year highs on the DX couldn't send it before. Gold, for lack of a better term, is a hedge against central bank and government idiocy, which has reach historical levels.
Gold is a means to an end. Ralph Waldo Emerson said "the desire of gold is not for gold. It is for the means of freedom." Goldman Sachs won't scare realists from a real asset.
