This week gold was under the spotlight as the other precious metals. As expected, the price have tested and smashed the lower channel, ; however the slide had a much stronger magnitude as what we forecasted. The area in the 1270’s didn t give much of a support, and gold kept on sliding under the 200 MA and even broke the 1250 level. On Friday then a few buyers took it back over 1250 dollars per ounce. The pressure on gold is still there and I am not a hundred percent sure the price is going up from here. October confirms to be historically the worst month for gold prices. I would want tosee less volatility before reentering the market. A level in the 1240’s however seems to be a reasonable spot to buy any dip.