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Once again, gold prices fail to break above the 50 day MA and continue to trade between $1550 an ounce and $1625 an ounce.  Once prices push above the key resistance (R), the upward trend will resume.

I have three articles that suggest we are already IN a DEPRESSION.  Check out what Bill Holter, CNBC.com and Graham Summers have to say about this.  Then ask yourself, “How much longer can Bernanke hold off with another round of QE?”

How close are we to a new Great Depression? – Bill Holter

How Close Are We to New Great Depression? – CNBC

The US is Entering a Second Recession (in the Context of a Great Depression) In Its Worst State in the Post-WWII Era – Graham Summers