POG plunged overnight

POG is dependent of supply and demand.  Warren Buffett is right that gold is useless from an industrial perspective.  Yet, because of 'intrinsic' value, jewelers want it.   And even more importantly, the central banks want it.  Its intrinsic value is because you cannot manufacture or print it.

POG has remained over USD1600 per oz for some time now.  If it drops further, the central banks will buy them up to maintain the value of their current stocks of gold.  And the POG cannot rise too high either because investors will sell to realize its value.

The amount I can contribute to my super has been and will be cut down by the Labor government so cash is not easy to generate in that portfolio any more.  It is impossible to pick the trough with so many financial crises around the world.  Hence I will sit around for a while unless a lowly price bid materializes.