It's been oversold since it was $2,000 pre-splits.
Gold is over-manipulated by the Fed banks who have a printing press. They get free money, but they want to maintain its value by suppressing other forms of money. So gold goes down.
Gold goes down despite endless QEs. Gold goes down on threats of tapering (won't happen--they'll just talk about it). Gold goes down when the market goes up and goes down when the market goes down. Gold goes down despite China accumulating. Gold goes down despite all the pro-gold touters claiming it's going to the moon. Gold goes down despite claims that there isn't enough of it for shorts to deliver on the metals exchanges. (They'll make traders take cash--take it or leave it).
NUGT goes down because miners can't turn a profit without higher gold prices and mining is a very expensive business.
I don't know where the bottom is, but I've had enough. No more averaging down or hoping or wishing. Gold bugs have had their backsides handed to them on a plate by the banksters. Our money system is hopelessly corrupt and that corruption is out in the open, but our politicians, universities, justice and regulatory system and our media are all owned by them. So there it is.
News 
Market Data 
Discover 
