Markets: how low can gold go? Well support is in the $540 area, but one must always keep in mind that gold has no utility whatsoever. This useless commodity is for looks only and most people around the world have no experience using gold as currency, it's just an idea to them. Also keep in mind that the millions who have bought gold at $600 and up have lost their asses. Gold is matching oil. Stocks: keep in mind that "business" has bought back a trillion dollars worth of their own stock over the past year or so which means that this fall is actually worse than it appears.