Trader Dan's Market Views: Gold Chart comments

Good explanation for decline, and perspective -- ``Not that I would be particularly happy about it should it occur, gold could drop as low as $1500 and still not dent the long term uptrend in the metal. If you look at this chart carefully, note that the red uptrend line was actually violated in 2008 leading to cries that the end of the bull market was upon us. However, that foray lower corresponded with the advent of QE1 and the rest is now history.''