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“I don’t expect it to drop much more, and I’d be very surprised at a drop below $1,000 an ounce, but there is no law of nature preventing it from doing so. All markets fluctuate. People who get panicked are overcommitted… or maybe they shouldn’t be in the market because they’re not psychologically suited for it. The problem is that government currency debasement practically forces everyone to be in the market, just to try to stay ahead of inflation.  You can’t time market bottoms, but you’ve got to play the odds. If I were going to sell anything now, I wouldn’t think of selling my gold or gold stocks.”

http://www.caseyresearch.com/cdd/doug-casey-gold-crash-not-what-either-bulls-or-bears-are-telling-you