The price of Gold
is on the rise ever since the begining of the year. According to the technical picture, the current upside trend is merely a correction to the major downside move coming from the record breaking highs of $1920 (at the end of 2011) to the low levels of $1046 (by the end of 2015). Since most corrections tend to correct at least 38.2% of the major move, that should place the price of Gold
at the level of $1391 - My price target for this Buy Signal.