suanna

Gold is too volatile for me for intraday trading, but it does tend to follow seasonal patterns well. I entered a long position on June 29 with a tight stop. The entry was confirmed by a bullish engulfing pattern—a signal that has historically always led to a rise in the price of gold. The 76.4% retracement level at approximately $4,655 should be reached at a minimum; the price might even hit $5,000. However, the price should not drop below $4,000.

That would be a very bold prediction. I think the probability of an increase starting in April is more like 72%. Anyway, I'm staying long.

Larry's gold forecast looks pretty bad, doesn't it? I simply can't imagine that gold is supposed to fall from now until the end of 2028 (Long-Term Gold Cycle, page 71).😦