Why the biggest fall in gold is yet to come:
http://www.nzherald.co.nz/business/n...909365&ref=rss
If we don't even have confirmation yet and this is not factored into the gold price, as has been clearly shown this week, then there is still more carnage around the corner. The stock market may take a dive, but I think gold will be absolutely pummelled once tapering is confirmed, the same way it went (deacresingly) upwards after each successive QE notice. So, a few more major downward legs are due over the coming years as the tapering takes effect, with the first being the worst (if history teaches us anything, which for some it doesn't!).
However, I thoroughly believe there is money to be made both going up and down in the market. Any downwards legs can be ridden at their bottom to a lower high that balances out to fair price before the next fall begins. You could also short gold, but that is too inherently risky considering it can be recalled at any time. Following Kitco and playing the charts has always been pretty foolproof for me!