Gold carrying on south

As I recently mentioned in this post, the precious metal had been moving in a downwards direction for a while - this has fallen further and is now back below the $1,500 level. As usual, no-one knows if this trend will finish next week, or next year, or in 10 years time. No need to try and pick a bottom in this market - just wait for price to reverse trend. If you are short, then it's simply a case of sitting and waiting for your trailing stop to signal the end of the trend.