Caledonia Mining Corporation (CMCL)

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Gold Price Bull Market 2015 Annihilated by Strong U.S. Dollar

Mar 13, 2015

Within weeks of the start of 2015, the Gold price had soared to nudge above $1,300 prompting many gold bugs to start proclaiming that the long anticipated resumption of the gold bull market had begun after what had seemed like an never ending 3.5 year bear market that had contained many false dawns which had greatly demoralised many gold bugs and even worse for precious metal stock investors.

However, gold bug mania commentary such as that Apple would soon start buying hundreds of tons of gold, as much as 1/3rd of global gold supply for its new i-watch and thus push the gold price towards new all time highs proved short lived as the January peak of $1,308 was followed by a relentless grind lower to $1,150, that is even lower than where Gold began the year at $1,183.



For the reason why one only needs take a look to the US Dollar which has literally soared into the stratosphere, reasons for which I will take a close look at in a separate article.



Gold Price Forecast 2015

In terms of forecast expectations, my Gold price analysis of last December concluded in the following trend expectation for 2015.

31 Dec 2014 - Gold Price Trend Forecast 2015

Gold Price Forecast Conclusion 2015

My forecast conclusion is for the Gold price to trend lower into August 2015, targeting a low of $1050 before Gold finally makes a low for the year that propels the Gold price to above $1300, probably spiking to approx $1350 during November before correcting during December as illustrated by the below forecast trend graph.



And here's a video version of the analysis:

Gold Price Trend Forecast 2015

http://www.marketoracle.co.uk/Article49815.html