Submitted by Tyler Durden on 12/20/2011 19:46 -0500
Posted by ZeroHedge
"Gold again proves it is not the safe haven many had hoped for, breaking the 200-day moving average, the first time since 2009 and signaling that prices may drop to US$1400/ounce."
So begins a post by a "market strategist" from Roubini Global Economics as of less than a week ago. Well, since as the chart below shows gold just took out the 200-DMA, this time in the opposite direction upside, having proven the recent drop was nothing but a buying opportunity as was suggested by the non-Ph.D. community, we assume that using the author's logic, gold has proven that it is in fact a safe haven, and that since it is not going to $1400 it can only go to infinity.... Or is that us taking liberties with our lack of an economics Ph.D. a little too far?
Gold just took out the 200DMA (green dotted line).
Posted by ZeroHedge
"Gold again proves it is not the safe haven many had hoped for, breaking the 200-day moving average, the first time since 2009 and signaling that prices may drop to US$1400/ounce."
So begins a post by a "market strategist" from Roubini Global Economics as of less than a week ago. Well, since as the chart below shows gold just took out the 200-DMA, this time in the opposite direction upside, having proven the recent drop was nothing but a buying opportunity as was suggested by the non-Ph.D. community, we assume that using the author's logic, gold has proven that it is in fact a safe haven, and that since it is not going to $1400 it can only go to infinity.... Or is that us taking liberties with our lack of an economics Ph.D. a little too far?
Gold just took out the 200DMA (green dotted line).
