Why buy gold after the recent plunges in price?
"These are daily plunges, and probably discouraged amateur gold-holders. But note that the third plunge bottomed far above the other two declines. Furthermore, gold is now fluctuating above its 50-day, and the 50-day MA is not only bullishly rising but it is above its 200-day MA.
It's bullish when any item is above its 50-day MA with the 50-day MA, in turn, is above its 200-day MA -- and both moving averages are rising. That's what we have now. Gold looks bullish to me. The immediate upside target -- to close above 700."