Knowing when it’s time to buy gold

Last week August 2013 Gold (COMEX:GCQ13) opened at $1,232.90 an ounce and closed the week at $1,212.70. Since-mid June, the drops in gold have been much larger than the moves up. On June 20 a drop of $87.80, June 26 a drop of $45.30, and last Friday a drop of $39.20. Before the drop on June 20, $1,350 was support, now I am looking at $1,200 as support.

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