Looks to me like total annihilation of the Gold mining industry, with Gold still historically speaking, very high. In my opinion whats happening? Gold is being taken down by the Banks and the FED because they see price of gold a as threat to stability and inflation and maintaining a currency monopoly on a global scale. Asia is buying gold because they are scared of buying any more bonds. The fear from the FED is that if USD is destabilized through Gold buying hyper-inflation will be a reality and a new Gold backed global currency will be touted as the only option. This looks like a take-down. Only problem with the take-down, is that as they drive down gold and miners, Asia is buying the gold at increasingly larger and larger scales. So eventually the FED and Banks run by the FED can't keep up with the increased sham they are trying to pull. But for now they have it under control because the trading volume can be easily absorbed by their coffers, when Goldman Sachs comes out and says it's time to buy, Gold will go up, and I'm not sure it will anytime sooner than that, since Goldman is the FED. There is a possibility we see lot's more pain. But at the same time this lack of money for the sector is eating up the future supply of Gold and making fundamentals better because there is no money to go around for investments and miners are shuttering operations. So we have a smaller future supply of Gold coming online with increasing demand. Perfect storm for prices to go up on the horizon, just obviously not right now.
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