Gold Market Crash Coming

Early last week it looked as though gold had good enough footing thanks to a very positive tone to the Greece discussions and weak U.S. economic data. However, things changed dramatically for gold last week thanks to two key developments. A failed European effort to resolve the Greece situation and a poor outlook for the effort this month should severely harm the euro versus the dollar. Meanwhile, economic vigor evidenced by the monthly jobs report on Friday should renew debate about a potential Federal Reserve rate hike in June. Each of these two events should serve the dollar versus the euro, and a severely strengthening dollar could crush gold. See my gold report here. Article interests SPDR Gold Trust (NYSE: GLD), Market Vectors Gold Miners (NYSE: GDX), Market Vectors Junior Gold Miners (NYSE: GDXJ), iShares Silver Trust (NYSE: SLV), Direxion Daily Gold Miners Bull 3X (NYSE: NUGT), Direxion Daily Gold Miners Bear 3X (NYSE: DUST), Goldcorp (NYSE: GG).

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