1. cut loss (you have had a wrong view on the gold price. it's going up, not down) + portfolio review (reset your view on the price direction; make new investment to have new profit cover up ur loss)
2. hold + portfolio review (reset your view on the price direction; make new investment to have new profit cover up ur loss)
6 months ago, gold price was only talking about US$420... now?? over US$500, over US$600, over US$610... what were you thinking when people told you that price was going to reach $600 when the price was $420? would you buy and hold until US$600?
so, just the same case for now. set your own view and strategy, not others'. noone is going to help you. it is your own $$ after all. if you think it is going to drop, then short sell; if you think it is going to up, then buy.