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Spot GOLD Retests 2013 Low the Final Trading Day of the Year


Today's weakness in spot GOLD (and the miners), definitely has the look and the feel of "capitulation day" for any and every fund manager and investor who does not want to show the remotest long-side attachment to the metal, or the sector as the year comes to an end.

Today's low so far is $1184.23, just about $4 above the low for 2013 ($1180.04), with new lows-- and perhaps an acute washout-- not out of the question.

My optimal new-low target is $1153 to $1138, with downside overshoot to $$1100-$1080.

In the event of either target being met, I will be looking to enter a new long position in the Sprott Physical Gold Trust ETV (PHYS)...

Last in PHYS is 9.82/83... The June 28, 2013 low in PHYS was 9.81.

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