After an amazing decade run, Gold (GLD) has finally run out of steam. Nobody seems to know why gold would collapse now if Europe still a disaster area. Probably more that the trade became too crowded.
Never was a fan of owning the physical commodity, but clearly it was a profitable trade. Anybody still owning gold should be careful as the GLD has broken solidly below the 200ema. No reason for Gold to remain in the $1,500 level.
Update: Interesting post from Seeking Alpha. Note the huge difference in performance for Gold versus the Dow would make me concerned about owning last decades winner and this decades loser.
12:38 PM A nice late-year run by stocks combined with the fall in gold prices has allowed the DJIA (with dividends included) to pull aheadof the yellow metal's performance for 2011 - a massive turnaround from late summer, when gold was in the lead by 26%. Goldbugs retain a big advantage over the last decade though, +465% vs. a 54% total return for the Dow
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