If it stays above 1200 it could be a buy. A lot of people are suggesting gold is going lower. Since 2013 it has had at least a half a dozen solid attempts to go below 1200 and yet it still bounces back. Why? Because it has value short and long term. What is the fair value for gold? Probably 1200 dollars??? Now let the emotions come in and the USD slip a bit and the commodity cycle change from bearish to bullish and gold could rally back up to 1500.00 Why? Because it can just like oil can fall from 140 to 30 things happen.