Gold is currently retracing towards its long term trend line according to Adam from MarketClub. He has released another video on Gold and says it is currently in trading range, and there is no strong indication that Gold will be breaking down below its
trend-line. Check out his video here.
Below are two year weekly chart of GLD and GDX ETFs. As you can see, both are very close to reaching its long term trend line as well. A entry point for GLD would be around $114 and for GDX would be $48. However, if trend line gets broken, expect GLD to fall all the way to $100 and GDX to fall all the way to $40.