| After gold declined to a 5-year low, the message is that gold is doomed. Is it really true? In the past few weeks, the price of gold has suffered a significant decline, indicated by multiple technical signals and triggered by China's disappointing disclosure of its official gold reserves on July 17 and the following heavy selling in the Asian market.
Gold bullion dropped by 6% in July, significantly deteriorating the market sentiment toward the yellow metal. Indeed, the sentiment indexes fell to record lows. It seems that quite a few gold investors threw in the towel, as hedge funds became net-short in gold for the first time since 2006...............................................Full Article: Source
|