I have been grappling with this question all year. And by the way gold has traded since July, the possibility of breaking below $1000 could certainly happen.

Here is me and the great Martin Armstrong at his 2015 World Economic Conference in Princeton, NJ.

The man is a trading genius. He has been really adamant about gold needing to break below $1000. Or if gold can close the year somewhere around $1270ish, then perhaps the bottom is in.

He was right about Brexit, right about Trump, and right about what is happening in Europe.