Chart on gold shows clear downtrend

GottaGetCoins

We need Gold to break into a new 55 day high to be in an uptrend.

http://charts3.barchart.com/chart.asp?sym=GCJ4&data=A&jav=adv&vol=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=

davewang202

When you look the the price of gold with a world view, the price of gold really hasn't changed much with respect to strong currencies from the rest of the world as much as that USD has declined against those currencies and gold.

With the G7 summit and the consensus to prevent the USD from sliding further, the price of gold as measured in USD does not appear likely to increase in the near term. Moreover, if the respective central banks intervene to stop/slow/reverse the decline of the dollar, the price of gold can and would likely see a drop back down to the mid $300's range.

MacCoin

try to buy gold coinage you won't see much of a drop. but the second it goes up the dealers are on to the price change game.

fishcooker

Looks like to me somebody wants gold to be $400. I'll sit sideline for a bit until Risk is more clear.

edsondl

I thought that I read in the paper that the powers that be have decided to not act to prevent the dollar from falling. I expected a much larger increase in PMs today.