GOLD PERFORMED outstandingly in the "quiet season" of July and August last year. A Gold Price of $2,000 an ounce looked a certainty before the end of the year, writes Julian Phillips of GoldForecaster.
But then unusual forces pummeled the Gold Price and all other global financial markets. Shades of the credit crunch hit the markets under the title of the Eurozone debt crisis. This had been going on for the last two years, but it entered a very dangerous stage in the final quarter of 2011.
Investors have been used to prices falling for fundamental or technical analysis reasons, but the phenomenon that we first saw in 2007/8 reared its ugly head again – what you might call Investor Meltdown.
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