As you know, I've been watching gold lately. The chart below shows that we're getting a nice correction right now. The blue trendline is going to be support -- but I think that Gold can break through that support and fall all the way to the 200-day Simple Moving Average. I'm not buying until that happens. Click on the image below for a larger version.
There are two reasons I think Gold can get down to 430 or so. First, the USD is going to have a bull run based on interest rates (or so I believe) until the end of the year. Second, Gold can take a dive each year in the late fall, as the demand dries up after holiday buying.
