Gold is down at US$1360/oz today. This is a 20% decline year-to-date and a 30% decline from 2011 highs. The chart is broken ending a 10 year bull market. It’s time to get out.
- Sell CGL.TO @ $12.18
Writing a month later, on 17th May, this appears to have been a good call. After rebounding somewhat CGL.TO slumped and closed today at $12.06.
Gold is at $1365, 28% down from it’s 2011 high of around $1,900. The S&P 500 has risen almost 50% in the same time period. The historic bull run in gold seems to be well and truly snapped.