Gold Won't Go Down Without A Messy Fight

Currently gold or the GLD ETF is hitting a high of $137. This happens to be close to 66.66% more than the peak high of 1980. Well not so strange, but not until you learn that the GLD low was around $27, or close to 66.66% less than the peak of 1980. 

Spooked? Somehow I think Damien (ak Omen movies) is going to SELL, SELL.

WHY: Maybe the strength in the $USD from a higher yielding bond market, or from the EURO doing something wacky, stocks may sell off as some one reads BAC balance sheet in WikiLeaks, who knows!

BUT I know this stuff that goes up in straight lines is NOT immune from the Damien touch! I expect lower prices by March 2011, but I don’t expect GOLD to go down with out a messy fight.

Have a close look at this long term GLD chart (GOLD cash inserted into GLD price where needed).

Chart Link 

gold

 

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