Gold has had a fast pullback off of its highs the past few days. It is a pullback that has taken me by surprise and it is not fun to see a shift in your account to the downside in a market come so fast, but gold is a very volatile market and prone to quick pullbacks and giant surges too.

The pullback has caused many to think that gold is not in a bull market or expect it to collapse. But investing in goldstill makes sense when you look at the big picture charts.

Some are even shorting gold!

But many more are worried about it, which is only natural when you own something and see it drop.

Where is the bottom?

I give the key support levels to watch in the video below. One is right below here, which would suggest a bottom today.

If I had no metals and mining stocks at all I would buy today on the close if they go up.

But what if they fall today again?

I talk about ultimate support in this video too.

And I explain the real reason I think gold fell..

It has nothing to do with Ukraine or the Fed even in my view.

Mike Swanson

About Mike Swanson

Mike Swanson is the founder and chief editor of WallStreetWindow and author of the book Strategic Stock Trading. He ran a hedge fund from 2003 to 2006 that generated a return of over 78% for its investors during that time frame. In 2005 out out over 5,000 hedge funds tracked by hedgefund.net it was ranked in the top 35 in regards to performance.  He has published a financial investment newsletter since 1999 now titled WallStreetWindow Monthly and publishes a premium trading service called WallStreetWindow Power Investor geared towards accredited investors.  He graduated from the University of Virginia in 1999 with a Masters Degree in History and published a book on the history of the American South focusing on the city of Danville, Virginia in 2010. In 2013 he published the book The War State: Cold War Origins of the Military-Industrial Complex and the Power Elite, 1945-1963. – See more at: http://www.wallstreetwindow.com/aboutus#sthash.uCURo9hC.dpuf