From Martin Armstrong:
There have been two targets for a gold low. The normal technical replacement back to the 1980 high, which calls for a break under $1,000. The worse case is a drop all the way down to test our Yearly Bearish Reversal at the $680 level. The latter would certainly be possible if the central banks start selling off the gold since it no longer serves any function within the world monetary system no matter what the gold promoters argue. We are moving to electronic money so the governments can get every penny of tax. That is the trend and the governments are destroying the world economy in the process.