Gold Bottom Fast Approaching or Euro Going the Way of the Dodo?

The euro is getting absolutely massacred, driving the dollar up and gold down.  Badly.  Enough to completely wash out the weak hands, in fact.

Going out on a limb, we're going to attempt the most foolish thing one can attempt--calling the bottom of a massive sell-off.  Don't bet anything on this call.  Catching a falling knife is a fool's game.  Instead, look for a confirmation of a bottom by a turning dollar, a supported euro, and a little time with gold consolidating at a given level.  That's the only way to be sure.  But, in the spirit of holiday vigor, we're going to lay odds that today is the spike low bottom, occurring at or near the 1072 level.

We'll update the market situation more tonight.  Go study up on some mining companies...