I previously thought that 1420 might be the low for gold.
But now I think the bottom could be 1150-1250.
That means another 25% drop for gold prices to a bottom.
Mining shares will fare worse.
25% lower for IAG puts it at about 4.38.
I would call that 4; but hey maybe 3.75.
Never thought I would see that.
But today, I sold a gold mutual fund I have been in for 12 years. It has been a good proxy for gold prices, but actually doing worse with miners doing worse. Long term, I might dollar cost average back in to fund- but probably after waiting 2 more years for gold to make a solid bottom. I saw no point in losing 25% more, when I can do better with the money elsewhere in the market. I would prefer individual stock picking to gold fund averages.