I appreciate the bearish view here and one needs to keep them in mind. However, looking back at the 5 year chart for gold, the pattern from the 2008 crash looks very similar to the pattern we are in now. At that time, people were calling for gold to fall back to $500 but instead, it turned around and went on a great 3 year run. I am not calling that to happen this time but it is certainly a possibility. If we break $1580, I think the technical picture will get ugly real fast. However, if we can maintain this range and then break back over the 200 day, I think we are heading for another big run in gold prices. Just wish I had a crystal ball!!

Glorieux