Sydney, Apr.25, national stock exchange .- Gold is testing short-term resistance at $1440. Bear market rallies are notoriously unreliable and reversal below $1400 would warn of another down-swing. Breach of $1330 would confirm another decline, with the next major support level at the 2008 high of $1000.
I am still bullish on gold in the long-term. We face a decade of easy monetary policy from central banks, with competing devaluations as nations struggle to recover at the expense of each other. This WSJ interview with PIMCO CEO Mohamed El-Erian offers a realistic long-term outlook.