The uptrend is still intact, but we may see a retest of the...

The uptrend is still intact, but we may see a retest of the trend line in 2H12 as has occurred a few times over the last decade.

A bounce of this trend would lead to a quick retest of of previous recent high as shorts close out and positions move to long. Inflation-adjusted all time high would then be the next target, which would be around US$2300. And bull markets tend to overshoot, so we could see a price well above this at the end of the run.

One day this decade+ bull market for gold will end, but it won't be whilst the printing presses are still rolling. It will be a nailbiting time when the retest happens ($1450 in coming months?), but that's always the case with long-term trendlines, as the stakes are high either way.