Recently on radio, we did mention we predict gold to be heading for 1200. It sure looks weak at this moment, Yesterday in the day, gold at one point drops $50 to reach a low of $1223. Like what we mentioned, we think that it is heading at least to 1200, where we think might have a strong support.
Let us see if it happens.
By the way, some of my friends recently asked, what should we do if we have position? Long term wise, we think you should never have invested in gold. It is on a long term downtrend, You will never see gold at $1930, the highest point, for the next 10 years. Short term wise, we think there is a rebound. You may want to take the opportunity to sell into the rebound.
Good luck with trading gold, a "safe haven" that is never really safe!