Long term, how can you argue with this chart?

It wouldn't surprise me if China was contributing to gold's weakness. China is a long term planner. Why wouldn't they help gold lower to better their prices? They're not looking at prices the same way we do. The obsession at figuring out daily and weekly moves will make you sick.

It's all about 5 to 10 years out and more. Wanting instant gratification by buying and holding the pm's and their shares is mind disturbing. Some folks are down and out and bitter about the possible manipulating of long term prices. Gold is like any other market, it's going to have its ups and downs with the public having the last word at both extremes. The smart contrarian knows this well. I continue to buy gold related items on this weakness and look to buy more lower.

I love gold forever. It's like being married, you just have to figure out what works best for you without hurting anyone and knowing that even though a truck load of lemons unexpectely gets delivered to your doorstep always have a plan in mind for that eventuality. Some gold analysts, if you can call them that, are taking pot shots at brilliant minds who understand markets. This is hurtful and unecessary. The advice to them is understand your mistakes and don't repeat them. The public doesn't buy into declining markets, they usually only buy near tops when the volume swells when they have a lot of company. Thus, the herd instinct.

When the gold low comes in, who knows? You'll know when it's close when the media starts having a field day with how much it's down and what significant levels have been broken. When the papers hearalded gold breaking the level $100 when I was a young many years back, I actually put nearly 75% of our money then into gold and the shares. So if another round number like at the $1000 level gives way, you can count on my being there, again. The round numbers on the charts, especially 10, 100, 1000 are really the biggest support and resistant areas around. Even if they temporarily break, it is usually meaningless. This is something the media never seems to learn.

Thanks Brutus for the link to this powerful chart: