Zero Hedge: "The short term outlook for the precious metals is, as ever, uncertain. Further weakness is possible although there is strong support for gold at the $1,200/oz level from a technical and fundamental perspective. There is robust international demand for gold at these levels and gold is becoming increasingly uneconomical to mine at these depressed price levels.
Pound, euro and dollar cost averaging into a physical gold position protects from volatility and from short term price risk and remains prudent.
Longer term we continue to believe that gold is in a secular bull market which will continue from 2015 to 2020. We continue to believe that gold should reach and surpass its inflation adjusted high of $2,400/oz in the coming years."
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