| Gold collapse to continue? Indeed, although our former Chancellor got it totally wrong as far as exiting Gold on the "Death of Inflation" in terms of price, he was right in one sense, inflation never really returned. In fact, we seem to have been treated to the worst of all combinations, not inflation and hence no growth, but at the same time the value of money has continued to decline a pace. In addition, all the bailouts in the Eurozone and in the UK banking sector have not delivered any real benefits to Gold, even though in the wake of the Cyprus Template one would have expected a massive surge through $2,000, rather than a crash below $1,500, with an alleged $20 billion sell order hitting the U.S. Gold Futures market this week. You would have to assume that such an order will take a long time to be swallowed up - even by bargain hunters. CLAIM YOUR FREE ONE WEEK TRIAL TO ZAKS-TA.COM - EMAIL ADMIN@T1PS.COM BY CLICKING HERE Perhaps the final insult as far as Gold is concerned has been the total inability for anyone who is not always bearish anyway to forecast the latest collapse. In fact, the wisest thing to do in 2013 would probably have been to wait on a break of 2012 resistance at $1,800 - one that never came, or of course taken heed when it was revealed that George Soros had lightened his holdings. What of the future? The problem with this market is that most have been wrongfooted and most are still assuming that we shall see the Supercyle will return. Until these parties give up, Gold won't play ball. The 38.2% Fibonacci Retracement level on the latest collapse is $1,434, the same level as the 200 week moving average on the weekly chart. Until $1,434 is cleared on a weekly basis the 8 year uptrend line at $1,290 is the target here. It should also be remembered that there is no particular reason why this market should bounce at all.
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