Gold has lost its sheen in the short term and one need to take a pragmatic decision after seeing the screenshot as given below. Do not get panicked as gold will be always be in demand and thus its long term trend will be always bullish.
Why suddenly market has become bearish on the gold and is showing negativity on gold because they are citing the concerns that resurgence in Euro Area risk aversion and disappointing US economic data has not led to increase in gold price which is a matter of concern. These sentiments are echoed by Goldman Sachs and one can not ignore the same in short term. You can check our daily free Gold tip here.
Verdict
It appears for the short term gold may remain under pressure but in the long term gold will remain an asset class which will appreciate as its price is perception based. This post was made on 09 Apr 2013 and the thus the trend has to be seen in the correct time frame.
