It is not a coincidence that gold has seen a low of $1161 thus far in today's large sell-off:

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Gold_Fibonacci

There is a great deal of Fibonacci confluence in the $1154-$1160 area (the 50% retracement of the entire 2003-2011 bull run and the 61.8% retracement of the 2008 low to the 2011 peak). Moreover this area also represents important support/resistance dating back to the first half of 2010, a period of time during which gold consolidated before launching into the final phase of its most recent bull run. It is reasonable to expect that gold will find some support in this area, however, should $1150 get breached the next downside target will be between $1080-$1100.