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Gold Prices: Why the drop?

Posted May 13, 2008

“Take, for example, the recent news stories regarding the Gold market. According to the in-crowd, three main coordinates will always point gold prices due NORTH.” — Nico Isaac

Blogger’s note: Despite the dollar being down and other resources being up, gold has fallen in the last month. So what’s going on with the yellow metal? Nico Isaac of Elliott Wave International explains gold’s recent movement. You can find the article here or read on for more.

by Nico Isaac, Elliott Wave International

Baltimore – (TFN): This weekend, I learned the meaning of the word “alethiometer” from a precocious ten-year old boy. Turns out, it’s the official name for the “Golden Compass,” of the 2007 sci-fi movie starring Nicole Kidman.

As for its magical power, the device answers any question thought by its user. The catch is — you have to ask from the right place. Otherwise, you will be led not closer, but further and further away from the actual truth.

The concept is quite familiar to the world of finance, where the mainstream experts seek answers to the marketplace from an alleged “golden” source of wisdom: i.e. outside news events. Yet, time and again, followers of “market fundamentals” end up lost and confused.

Take, for example, the recent news stories regarding Gold prices. According to the in-crowd, three main coordinates will always point gold prices due NORTH: Economic uncertainty/political unrest, a falling equity market, and a rising oil market.

(How Low Will Gold Go? The May 12 Short Term Update presents original price charts and objective near-term analysis of gold you won’t find anywhere else. Learn More)

It’s safe to say, the last few months of human existence have provided all three of these details in spades, as this brief rundown of current events makes plain… Read on to learn why gold hasn’t continued to rise.

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