guys, when will this drop will finally end ? planning to add some stock. but now I just wait n see~Ayone can speculate?

Selling all my gold when price broke down the daily kijun sen was really satisfying. That's what i call trade management. Even if you do not see charts, you can also do trade management.

for long term investment if thats is ur aim then u have nothing to worry about. buy today bad price.. just wait 6months-1year la. chill

i still optimistic to see it break $2000 barrier by end of this year

As predicted, gold has crashed to US$ 1,661 and dropping further. But USD still holding steady at 3.17.

This post has been edited by cybermaster98: Sep 23 2011, 11:54 PM

I wonder why our Europe and US dude so panic about the outcome of FED meeting recently.

Most of the investor withdraw their money from stock and gold market. Its really need to take some time to recover this time.

Not worried much here, unlike stock market, gold will never drop to PN4 At worst just treat it as fixed deposits for a few years. Anyways, I bought some GIA at RM180 and waiting to by more if it goes below RM170. But its not going down much due to high price of USD...

@Quinn

Thats a good call! I've been wanting to ask maybe you should consider opening your own ichimoku thread and give us some daily updates if you have the time & inclination. I'm sure a lot of ppl would appreciate that

woo... the breaks for gold price not functioning..... soon will bang on a tree or something then everybody starts collecting it again.. now 1650+ n falling...

I predict at least will hit back to 1700 during Monday Asia market due to everybody 'rush' to restock. Not sure the Europe and US dude see this as a revival of gold market or continue to dumb their gold

Wow....1657 bottom on the December Comex Gold.....100 dollars down today!

Most of hedge fund manager mostly cash in their paper gold not physical.
Now that will enlighten most of us that physical gold rules

http://www.cnbc.com/id/44638898

40 min later gold drop another 10 usd.....silver kena spanking kao kao d...

Its only lunch time in US now..... Cant imaging later close market is what price.

This post has been edited by hongchai888: Sep 24 2011, 01:13 AM

no eye see... i think dowan to monitor the price...a few years later check and see how

Bottom for Comex Gold December 1631.7, Silver dipped below 30 for a brief moment!!!

I not sure whether you all realize or not, as soon as the price try to go up, it will be pull down immediately.... I think someone play something behind

Target price met, support on 1630 held...so I think the drop is over for the immediate term....

If drop below 1630 how?

Then next support 1600? Possible to below 1630, but I think at least for the next week or so we have seen the bottom.

Gold: Biggest single day drop since Jan 1980
By Chris Isidore September 23, 2011

NEW YORK (CNNMoney) -- Gold prices continued to plunge Friday, despite the market turmoil that often drives investors to the traditional safe haven. Gold tumbled $101.90, or 5.9%, in regular trading to $1,639.80 an ounce. It's the second straight day of steep declines for the precious metal.

According to the Chicago Mercantile Exchange, Friday marked the first $100 daily price drop since Jan. 22, 1980, when gold plunged $143.50 to $682 the day after having spiked to a record high.

Keith Springer, president of Springer Financial Advisors, said that while gold has benefited from economic uncertainty in recent months and years, it's primarily been a hedge against inflation. But the growing worries about a global economic slowdown have raised new fears that there could be a period of deflation, or falling prices, in the months ahead.

"People are quickly coming to the realization that gold does very bad in a deflationary environment," he said.

Gold isn't the only commodity to be hit by concerns about the global economy. Silver suffered its worst trading day in decades losing $6.48, or 17.7%, to close at $30.10. Copper and platinum also both lost nearly 6%. But those metals have far more industrial uses than gold, Springer said, so fears of a recession should drive down those prices.

This recent rise in gold sees a Fib retraction of 61.8% to $1645

From a gold sage: