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Mooncake

Gold is in a long-term bearish trend

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
Mooncake  
FX:XAUUSD   Gold Spot / U.S. Dollar
Gold XAUUSD xauusdshort
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gold xauusd xauusdshort
Since 2011 Gold is in a steady downtrend. The period from 2004-2011 appears to be a huge bubble and it's correcting down back to the mean value.

It seems Gold behaves like the market cycle shown here:
www.ritholtz.com/blo...of-Market-Cycles.jpg
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