One thing to consider in gold's price decline of several hundred dollars from the price high to the price low is that the entire move encompasses the value of gold price at the beginning if the bull market.

From the highest to the lowest value dishoarding was greater than at any other time in the last 14 years. There hasn't been an accounting of the total dishoarding, only in the last instance of the decline.

There would be reason for optimism therefore, since dishoarding on an unprecedented scale as this, while it did some technical damage in the charts has rmerely resulted in conformity with a One Wave Extension paradigm in Elliot Wave Theory.

One sure sign that gold prices have bottomed is Nouriel Roubini's attempt to convince readers that the gold bull market is over. There is reason for optimism therefore from the simple fact that a correction so huge that it enveloped the entirety of what was once considered a discarded, demonetized relic could absorb the span of vehement price drops in stride.

http://ow.ly/lQ9fY

http://scharts.co/13abnbR

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