Poll: Do You Think Gold Will Fall to $1,200?
Gold prices have fallen sharply and quickly, slumping 15 percent within the space of a few days as bearish sentiment towards the precious metal grows. The question now is just how far can gold prices slide?
(Read More: Gold Hit by Panic Selling, Dragging Other Metals)
On Tuesday, gold hit its lowest level in more than two years to around $1,321 an ounce amid worries that central banks will dump their gold holdings and as concerns about the outlook for the global economy grow.
Many strategists have upped their bearish calls for where gold is headed. Chartist Daryl Guppy says gold could head to $1,260 over the next few weeks, while analysts say the $1,200 level is the scary number for gold investors as many gold producers could struggle to stay afloat if gold falls below that price.
(Read More: The Scary Number for Gold Investors)
So, will the sell-off in gold continue unabated or is the battered precious metal due a reprieve?
Vote and let us know what you think.