Do you think its a correction or trend reversal? At $1310 at this time the market is hovering just above the 50% Fibo retracement from the Aug low to the Dec high at $1293.
It will need to break the pattern of higher lows (around 1150) for a trend change. I am betting the higher lows continue.
You haven't been following the cheerleader in gold, Dr. Marc Faber? All a sudden his conviction is out the window and he is buying US treasuries. "correction in gold, maybe 20%" @11:15 in the video. <iframe title="YouTube video player" class="youtube-player" type="text/html" width="480" height="390" src="http://www.youtube.com/embed/rpfr2SzXpH8" frameborder="0" allowFullScreen></iframe>