Just to pass the time …. … And I run a high risk of being shot down in flames here, with Gold currently @ 1581 and falling fast …. but remember it weekly close we are looking at.
Corrections in Gold Bullion since 2006. On a weekly chart in US$.
120506 Bullion topped out at 715 and 4 months later bottomed at 587, a correction of 17.9%.
140308 Bullion topped out at 1001 and 7 months later bottomed at 723, a correction of 27.7%
020911 Bullion topped out at 1881 and 8 months later will it correct to 1560, a 17% correction.
US$1560 is a reasonable area of support/resistance dating back 12 months to April 2011.
