Sinking faster than previously reported. The Eurozone was down .5% in 2012 which has now increased to .6%. Greece, Spain, Portugal, Italy, Cyprus, the Netherlands and Finland are in recession. Germany's growth rate came in at -.6 in QIV and France's at -.3. France is deteriorating and England is in recession.
Gold's support at 1,650 gives way.
This is what the graph looked like on the thirteenth. The support held at 1650. And the following graph is three days later when support failed.
What can one make of this? Probably nothing. Economic numbers do not justify this breakdow though the gold market has stopped acting rationally a long time ago. In the past such takdowns were followed by rapid recovery.
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