M.A. has been right on the money so far, calling for a low around this level. Today Gold fell to a critical price level according to Mr A where a bottom is possible. Don't wanna even contemplate his alternate price target (Egads!)

http://armstrongeconomics.com/2013/06/

Gold began its recent decline precisely on target with the Direction Change of 06/17. Look for volatility to start to rise tomorrow into Monday. It will now take a daily closing back above 1400 to stabilize gold. This implies we have lower to go.

Key support lies at 1270 followed critical support at 1236-1233. A weekly closing beneath that level opens the door to a test of the 939.50 level.

It still appears we could see the lowest monthly closing in June, but the intraday low may still move into July ahead of the ECM turning point.