Gold is on a long term downtrend

Gold has clearly peaked and is on a downtrend. It may test the high again but a rise will destruct demand for gold. The rise in gold probably got to do with the depreciation of the US dollar rather than concern for demand because Gold is indestructible and has no utility.

My previous post about Goldcorp rising is short-sighted. It is currently in amidst of a bear rally.

However, things will change, opinion changes, fundamentals changes.