I may just add that, if we assume the outer green band as 1 standard deviation and the outer purple band as 2 standard deviation, one can work out what is the probability of gold reaching $1,600 and beyond.
Based on the above chart, there is a 50% chance that gold will be beyond $1,600 by 11th March. 34% probability GP will be between $1,600 and $1,660 and about 14% probability that it will be beyond $1,660 and up to $1,720.
The same can apply to the downside probability of GP movement which will give some level assurance on how far down GP can move.
IMO
I may just add that, if we assume the outer green band as 1...
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