In gold today we have three Weekly Bearish Reversals 1233, 1197, and 1176. Take out all three and we should expect a drop to 1040 area. It would be fantastic to see a collapse to $950 by the first week of August. That would destroy gold in the eyes of most as even an asset class. That would then set the stage for a real bull market.

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I have a gut feeling that whoever is jerking the gold price lower their ultimate objective is pushing it under $1000. In doing so, they will be able to spin all their doom stories in mass and suck up as much gold and gold companies waiting for the next leg up of the current bull market to unfold, JMHO.