As you are all no doubt bored with hearing, I am a long-term Gold bull, but recent events suggest to me that we may see another sharp medium-term dip before the big long-term bull trend reasserts itself.
Any market which collapses in a straight line like Gold did last week is starting to show signs of weakness. Add in to the mix the fact that the USD is starting to strengthen again and that Asian economies, who remain the biggest Gold buyers, have been struggling a bit over the last 3 months.
I think selling any rallies back towards $1800 makes very good sense and if the big sell-ff does eventuate, then we might see levels back towards $1500 very soon.
