Gold now down $15, No buyers. No telling where this reaction leads. All markets sometimes overshoot so tomorrow might be brighter. As for today, with the rout in HUI it did not take genius to go short for a profitable trade.
$10 is less than 1%. Gold and and especially silver will be volatile. Trading is too much trouble. Traders usually lose. Slow and steady and being able to tolerate volatility leads to the most consistent results. Gold and silver are insurance policies and meant for preservation of capital--not for making large profits. Your philosophy in investing is totally different from most "gold bugs". I am not saying it is wrong--but not for me or for individuals who don't have the time nor desire to watch the market all day. Get out and smell the roses!