RE: Possible Lift off,buying signal when Gold is s Forget the analysis...
Here's a quote to remember: "Trying to outguess the stupidity of the mob is an enormous challenge."
Here is an indisputable fact that shows just how stupid the mob is: The USA ran a trade deficit with the rest of the world of about $150 billion so far in 2013, $35 billion of which was with Europe. And what happens? The US Dollar Index rises 5%. That's right. In this world it now pays to run a trade deficit as the value of your currency will actually rise. Fundamentals mean nothing to today's 'savvy' crowd. This is a casino where the stupid rule. What was once right is now wrong. And what was once wrong is now right. It has become the world of the nut case. of course you know where this will end - like the internet boom of the 1990's and the real estate boom of the 2000's. Remember all the geniuses touting the "new economy" in the 1990's. Where are they now? Bashing gold of course...
And because the US Dollar Index is rising, the price of gold is falling - makes perfect sense (to the nut case). The reality folks, the Western bullion banks appear to be going for broke. They will sell what's left of their bullion at discounted prices, and when they run out, they will likely shut down the markets. The next step will be for savers/investors to bail in the system. Whatever they do, it will not be good.
The price of gold right now is too low. As a result, expect to see world mine production to enter into a steep decline. Unprofitable mines will be shut down and others will be retired early.