| Gold prices just hit a five-year low, with the precious metal and related gold ETFs down more than 40% from their 2011 peaks and looking to decline further. That’s bad news to those investing in gold. Worse news? The next level of support for gold prices is at $1,000 an ounce — and if that is breached, we could be looking at $700 an ounce for gold prices, the lowest levels since 2008.
At the beginning of 2015, some investors had hoped that the rout was over after gold prices rallied about 10% to start the year. But gold bullion prices couldn’t hold, and the jump at the beginning of the year can now clearly be seen as a head fake...............................................Full Article: Source
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