Cross of Death now unavoidable for Gold

Posted: 20 Feb 2013 07:52 PM PST

The Cross of Death is now unavoidable for gold prices as the 50dma is set to cross over the 200dma in a downward swing. The chart below shows that there was considerable damage done to gold following the last cross of death with gold prices dipping to the $1550/oz level. However this was short lived as gold recovered and managed to form a golden cross as the 50dma crossed over the 200dma in an upward swing. So it’s a crisscross situation that we find ourselves in as nervous investors, swing traders, speculators and fund managers go with the trend of day and trade accordingly.

The sell-off of both gold and silver has had a dramatic effect