Gold is setting up for a historic rally based on my analysis. Recent news provides further evidence that the Precious Metals and Currencies are in for a wild ride. Just this week, news that China’s reserves fell below $3 Trillion as well as the implications that the fall to near $2T in reserves could happen before the end of 2017. Additionally, we have recent news that the EU may be under further strain with regards to Greece, the IMF and debt. The accumulation of Precious Metals should be on everyone’s mind as well as the potential for a breakout rally.
Based on my analysis, I would estimate that near June or July 2017, Gold will be near $1315 ~ $1341 (+13% from recent lows). This level correlates to a Fibonacci frequency that has been in place for over 3 years now. A second Fibonacci frequency rate would put the project advancement levels, possibly closer to October/November 2017, near $1421 (+21% from recent lows). After these levels are reached, I expect a pullback to near $1261 if the Gold rally ends near $1315~1341 or to near $1308~1309 if the Gold rally ends near $1421. This pullback would setup a massive next wave rally to $1585 or $1731. So, if you need confirmation of this move, just wait for any rally to end above $1315, then wait for a pullback below $1280 or $1315 and BUY.
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