you must scale into GLD or the physical unlike futures which hold huge leverage, I scale into gold now, I fully know I cannot time it perfectly.
GLD is a good play for gold, been watching it lead the price even. True, scale in during a decline and buy the breakout.
buy GLD here if you want to lose money. GLD has a lot more to fall or consolidate in the next few weeks before ever inching up. Patience is the key Scale in only a tight range, not for wide ranges, Do not use Scale in replace of knowledge.
I want closer to $500 then I am in. Give me $515 ish and I am in. I don't trade fundamentals, but I don't overlook them either. The dollar will have a brief rally, that's it.
The correction in gold should take some time to unfold Be patient, I'd imagine at least several weeks
you want a slow steady decline, with lower highs and lower lows... a market that falls off a cliff is not a sign of a pullback, more like a crisis circa 1997 Asia...