Friday, April 30, 2010

Gold to $1350

I've been talking about gold going to 1350 since it peaked last December. At the time, I said a correction was in the offing, as follows:

A similar retracement now would bring the yellow metal down to $1,000 an ounce where very strong support lies. Personally, I don't think it will get that low.

Here is the link to the full December 7 column. And below is the current chart.

Gold is on the verge of breaking out again within the overall pattern.