Following is an extract from an article on Kitco.com using EWA (Elliot Wave Analysis).
"The predicted rise from $789 to $988 should incorporate two corrections of approximately 4%. Thereafter a 16% correction should follow."
With Au at $877.20 atm, that's a 4% correction from the high. If it holds around this figure, the run to $988 should be back under way within 24 hours.
The 16% forecast correction from $988 makes this a key future price to keep an eye on.
This would then be followed by a strong run through $1,000 to blue sky.
Another key level of support for Au at present is $850.
I would be buying gold stocks today and investing 60% of funds at current prices. EWA has an uncanny knack of being correct. If POG falls to $850, invest the remaining 40%. If POG rises from around $875-877 then be 100% invested. My thoughts only. As usual, DYOR - there's plenty of info out there.
