Hopefully we get a nice bounce for a couple of weeks before the routing resumes. For a really good objective look at gold and miner charting see chartfreak post here.
Gold is being politicized, and with politics comes games. China is trying to get into the gold game in a big way, and I believe its part of their mult-fork strategy to take away USA as the global currency, signing deals with UK, French and German Corps, Russia, Brazil, Australia, Canada, Argintena, South Korea, Singapore-Malasia , UAE-Saudi Arabia (limited trade), and of all things Bitcoin!
With such high stakes I can't imagine that we have a smooth ride ahead in any market.
In the next 3 months, I really have no clue about gold, I could easily believe it hits 990 an ounce before the bottom is in, and GDX hit 16 bucks. Or its quite possible we are near the low and its a great time to buy.
With politics comes games, and with games you can't trust anything. The US dollar has been the world currency for quite a while, and as the graph below shows, it isn't that crazy that the world will seek a change.
I am for Crypto-Currency to be the next world currency, meaning no country has it. But I suspect we'll have to go through the pain of China attempting to take the world currency first, then later after that fails go to Crypto. that could take a decade or so!
Eh, if only the worl operated effeciantly and just jumped to the end game :)
So your on your own through December, I really can't imagine 'knowing' the bottom is in until then.