Chris Kimble: Could Gold Lose 500 Bucks an Ounce?

Here’s the deal with gold, there really is only one way of truly “valuing” it, clever models aside, and that way is to determine whether or not it’s still in that gorgeous long-term uptrend or not.  It’s the ultimate supply-demand trend bet.

Chris Kimble has been pretty nasty with his gold charts all year, I’ve been linking to them regularly here.  Now he’s showing us gold holding onto a 2-year support line and what the downside could be on a meaningful break.  Let’s have a look:

(Click to Embiggen!)

Source:

Kimble Charting Solutions
Tags: $GLD