Gold rose to a daily close at $185 in Feb 1975 before falling back to $125 in Jan 1976 a small bounce to $135 before a fall to $104 Aug 1976.
Move onto 2011 and Gold peaked at $1895 in September 2011 before falling to $1192 on 28th June this year. Two months later Gold made a small bounce to $1419 by 28th August. Gold look like it is heading for a low around $1125.
Gold share have been hammered. Smith & Williamson Gold 171p is down 47% over the last 12 months and it looks like Gold shares have another 40% to fall down to 100-120p. Only a move above the 50ema (180p) will signal an end to the downtrend.
Rangold Resources 4375p long term down target is 1500p
Move onto 2011 and Gold peaked at $1895 in September 2011 before falling to $1192 on 28th June this year. Two months later Gold made a small bounce to $1419 by 28th August. Gold look like it is heading for a low around $1125.
Gold share have been hammered. Smith & Williamson Gold 171p is down 47% over the last 12 months and it looks like Gold shares have another 40% to fall down to 100-120p. Only a move above the 50ema (180p) will signal an end to the downtrend.
Rangold Resources 4375p long term down target is 1500p
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