nani,There's no doubt the gold market is looking bad. In fact,...

nani,
There's no doubt the gold market is looking bad. In fact, its looking downright awful. But tell me, when have you ever, ever, ever seen it behave in this way? Answer - just about never, but with one exception, and that was in late 1976 when it plummeted 50% (another US election year, coincidentally) to about USD100 before regaining all its losses by year end and then powering on all the way up to USD850 in 1980.

And today smells a lot like the 70's in other ways. We have inflation and falling growth at the same time - stagflation (gold bullish).
We have massively negative real interest rates in the US and Europe (gold bullish).

If the price of gold is plummeting now its because of some large overleveraged players who are cramming the exits. Nani, stand back & let them leave. Once they have you will have the opportunity to pick up shares of some excellent companies at insanely low prices. Im very confident the turnaround will come and you will find - at the very least - you have recovered your losses on your current open positions.

My hat is on standby for eating if we havent seen a turnaround by the time the new US president gets sworn in early next year.