The free options that I see with buying gold right now: Potential increase in geopolitical tension, either Russia/Ukraine, US/Iraq or even Russia/Euro-zone Potential for Draghi's easing to be delayed due to political difference Possibility that expectations around a US rate hike are pushed back to late 2015 Reversal of the metal's short term sell-off post BOJ easing The main potential downside is that we keep seeing deflation in the news headlines, a downside which I see as already largely priced in. I have even begun to see news about the low gold price and lower forecasts in non-financial news websites. To me this one of the best end of trend indicators. I am bullish gold in the short term (2-6 weeks). I have bought futures @ 1160, halfway up the leap on Fri 7 Nov. I welcome comments, please say if you think I've missed something.
free my ass. its all in the price gold would be <1000 if not for those factors, so you're actually paying through the nose not too late to get out, sell now
Long term support is roughly 700-$750 and if that fails it could go back to much lower levels. Gold is purely a speculative item and once out of favour can drop immensely in value. Spike up to $2000 seemed to have a bubble like nature that demanded a lot of worldwide economic turmoil to have any legs.