Economy
In reply to the discussion: STOCK MARKET WATCH, Wednesday, December 14, 2011 [View all]Ghost Dog
(16,881 posts)While meanwhile...
See also "The gold bugs are throwing in the towel" - http://www.democraticunderground.com/1116538#post2
Zerohedge comments:
How much further might gold fall? Market momentum is a powerful force and therefore further weakness is quite possible. Support is at the 200 day moving average at $1,619/oz. Below that is the psychological level of $1,600 per ounce and the 250 day moving average of $1,571/oz. Price resistance was seen at the $1,570/oz level between late April and July 2011 (see chart) and this level could become support as is often the case in bull markets. It is important to note that golds falls have been primarily dollar related and gold has fallen by a lot less in pound and in euro terms. Most analysts of the gold market remain of the view that this is another correction and that the medium and long term uptrend will continue due to significant investment, store of wealth and central bank demand due to geopolitical, macroeconomic, systemic and monetary risk.
/... http://www.zerohedge.com/news/roubini-asks-%E2%80%98goldbugs%E2%80%99-twitter-%E2%80%9Cwhere-2000%E2%80%9D
Edit history
![](du4img/smicon-reply-new.gif)