RE: RE: Institutional Support(phirang)You say that gold crashes under $1k., could you please explain why you think that gold will go under $1k......
I couldn't find out who told you that, so let me jump in and offer my opinion.
The U.S.$ is on a rally right now and this is sending gold down. The next important support line for gold is at $1050 and if it breaks through that then $1000 is not too far behind. Gold has been expected by many to correct because it has gone up quite quickly. I'd be happy to see it drop to $950, but IMHO opinion it is not going below $850 where it has a lot of support.
If gold drops below $1000 then wait for gold stocks to sell off and buy when it bottoms out. Gold will continue to move back up simply because the U.S. debt situation isn't improving any time soon (at least not in my lifetime). The one thing you have to watch out for is if the entire market tanks like it did in 2008, then it will bring gold stocks down with it.
Wiz