RIP: Gold .2013 THE ROBBERS OF GOLD

Bull market or bear market – where does gold stand now?

Is gold still in a bull market or a bear market? Opinions differ but in reality the answer to both questions could well be yes. It all depends where you start from! Over 12 years gold has risen from $250 to around $1,230 at the time of writing – definitely a bull market then? Over the past two and a bit years gold has fallen from around $1,900 to $1,220. That looks as though it may be a bear market then? Well yes – or is this just a major correction in a secular bull market? To an extent it depends on whether you are a gold bull or a gold bear as to which viewpoint you take.

Gold Investors: Thank God 2013 is over

Do you know when was the last time Gold delivered negative returns in USD term? I don’t know. Gold did not deliver -ve returns any year between 2002-2012. But this record will break in 2013 as Gold is about post huge negative returns in 2013. That’s why lots of people are in shock in 2013.

Gold is down 28% YTD in 2013 

Here’s the Gold Chart in 2013

 The turning point for Gold came when it broke down below USD 1550 in April 2013.We did cover a report on gold to our clients in april. As we had not started this blog service then  i wish to update the mail we sent in april

MAIL ON APRIL 11 TO CLIENTS

Is Gold about to breakdown 18 month support?

Nothing seems to be going right for Gold right now. The loose monetary policy around the world is working to advantages of stocks than Gold and as a result: expect more liquidation if Gold breaks down.

Overnight Gold tanked more than 1.5% because of three reasons:

1. Cyprus plans to sell 400 million euros’ worth of reserves to finance part of its bailout i.e. 10.36 tonnes
2. U.S. Federal Reserve is inching closer to ending its monetary stimulus program as per Fed minutes
3. Goldman Sachs cut its 2013 gold price forecast for the second time in six weeks, to $1,545 an ounce

Technically Gold is precariously close to the support level of 1525-1550.
 
As you can see in the weekly chart above – Gold is very close to support levels of 1525-1550. Once the support breaks: the real panic may emerge. 

IN AUGUST WE CAME AGAIN WITH A REPORT ON DONT BUY GOLD FOR ANY BOTTOM HUNTING
THIS WAS OUR REPORT
http://trendzofmarket.blogspot.in/2013/08/keep-hunting-bottom-for-gold.html 

NOW GOLD TRADES BELOW 1200 $USD/OZ .NOW AS LONG AS GOLD TRADES BELOW1550: IT WOULD BE VERY DIFFICULT TO HAVE A TURN AROUND