“First, central bank money-printing has lost its impact on the markets. Second, austerity measures in Europe and the United States are also overpowering the inflationary impact of money-printing.  Third, and most importantly in my view, the Cyprus confiscation of uninsured depositor money has completely turned the world upside down.  Money is no longer safe in a bank in Europe.  That, in turn, is causing hundreds of billions of dollars to essentially go into hiding. But not in gold, which is subject to confiscation, real or imagined.  Fourth, Japan’s new aggressive policy to devalue its currency is also not bullish for gold.”

http://www.moneyandmarkets.com/urgent-historic-gold-crash-what-to-expect-next-51718

Fourth, Japan’s new aggressive policy to devalue its currency is also not bullish for gold.

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