Will GOLD follow through on the drop?

Right now GOLD is following a predicted standard Elliott Wave corrective path. To confirm this it has to drop to the 1200.00 area or lower. From there watch for a reversal. This will play out in the CAD and AUD pairs if it does so. AND the S&P could have a sharp move if this happens as well. NOTE: If it goes UP from here then the correction may be over. BUT I think the smart play on GOLD is to look to buy above 1290.00