I agree in part to what you are saying, but $1400 for Au - NO WAY JOSE!! 2%-3% pullback from $1700 is no biggie - also, looks kind of odd when the perverbial rug has been pulled out. No, I think will bounce of support of $1650 or so and then could see new highs in the coming year. IMO, it is fairly conclusive that many stops were triggered to exaccerbate this downward move. Also, it's that time of the year for re-adjustments, capital losses etc.
P.S. the thing with a "bull" market is much like a real bull, it is constantly trying to buck you off.