I am a gold bug with 30 years of experience- gold at 1300 was going down supposedly on fears of an interest rate hike, then gold went down at least 30 % and it goes down again according the farcical media because of the fear on that famous interest rate hike, gold could be at $900 and again it could go down because of that possible interest rate hike,even at $600 and so on....Such ill informed journalists are so out of it, how many times do you factor in the bogeyman interest rate hike which is nothing compared to currency movement percentages nowadays....there are 3 important things and that' it , they are:

1) Production costs that no one ever mentions, when gold was at $900 the AISC was around $600 7-8 years ago, when gold was at $300 the AISC was at $200 15 years ago....now they are around $900 AISC and $1100 gold is on the low side of that relationship

2) Direct correlation with the USdollar and inflationor crisis  fears

3) China and India demand  That's  it, forget the interest rate hike