The Really Useful Gold Thread

Well, I maintain a further fall in gold is due, as recent buyers panic and rush for the hills. Gold has already dropped $45 in just over two weeks before a small correction as a few buyers came in. In my experience that means a further sudden drop is coming, perhaps caused by japanese selling as the yen strengthens. I personally could not understand why the dollar was hitting such highs against the yen but there it is. So the first target for gold is
$470 - if that does not hold then back to around the $457 level. That wil mean a near $100 dollar retracement and I reckon it will be here soonish.

I am doubtful this is the time to buy these "cheap" gold plays. The market does not believe this gold price will hold.

The bull fun in gold is over ... but not for long I reckon. I am on the sidelines for the moment but will definitely be back into gold if / when the fall continues.