matisyahu.greenspan

Where is the Gold Support Line?

FX:XAUUSD   Gold/U.S. Dollar
33 0 1
Pretty sure that everybody agrees. In the long run the value of gold             will always rise, but the trend at the moment is extremely bearish . Looks like we have heavy support coming at $1000 per oz. However, if it gets there, it could easily take out a bunch of Stop Losses that are no doubt sitting just below this level.

The best strategy that I can see is to continue buying lightly as it drops. The further it goes down, the more you buy. Make sure you can sustain a draw-down as far as $500 per oz.
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