Pic, I agree it's very likely we get a bottom in gold today. A spike down of some kind and move back up would probably indicate a bottom is in. Gold will likely then move a little higher and consolidate into what will likely be a huge turn higher around Monday Nov 9th. We must keep in mind that there is jobs report next week and G20 meeting but it's likely that no further damage will be done given the amount of physical sold recently to suppress gold for options expiry.

The Russia story has a bad smell about it with great timing for options expiry and I put very little credence into this at this time, a very likely bear raid story which is very common in gold market. This Digital Option which expires on Wednesday however is another matter and has likely contributed to a good cap on gold at $1070. I have little experience or knowledge of this vehicle but having now seen it in action I will be wary.