Looking at gold in AUD, you might expect it is close to...

Looking at gold in AUD, you might expect it is close to reversing back up off 12 month support. Maybe another $20-40 downside first to get into the lowest part of that support zone. Gold stocks do sometimes bottom before the gold price does. Overseas goldies look like they can go lower as they have been stronger than ours recently and the USD looks like it might continue higher against the Euro for a while. Hopefully the AUD eventually follows the iron ore price lower but our higher interest rates are not helping that cause (made worse by Euro rates being cut last night).