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The Road Map To New Gold Highs In 2013

By GoldTradingExperts.com CommoditiesNov 26, 2012 03:56AM ET
The Road Map To New Gold Highs In 2013
By GoldTradingExperts.com   |  Nov 26, 2012 03:56AM ET
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Gold has been in a bull market for the last 12 years, with year-on-year gains in every calendar year since 2001. We believe that this bull market has a lot further to go, though we expect a top of some significance in 2013, year 13 of the rally, being a Fibonacci number.

After a significant correction, we then expect the gold price to move higher again in another multi-year rally, taking us to a major top in 2022, a 21 year super rally in precious metals the like of which the world has never seen before.

It is clear from the chart below that gold makes a cyclical top every 22 months. The last such major top was in September 2011, giving us our next cyclical top in June 2013.
Gpld DFT
Gpld DFT

From an Elliot Wave perspective, we were in a Wave 4 corrective triangle from this top in September 2011 until we broke out of the triangle in August 2012 and began a Wave 5 rally.

We believe that we have completed Waves 1 and 2 of this final rally leg and have just started Wave 3. This means that we have Wave 3, 4 and 5 to complete the pattern and take us to the cyclical high in June 2013.

The chart below shows how we expect the price to move over the next 7 months to arrive at our projected top at $2,400.
Gold DFT
Gold DFT

Following this, we then expect a significant correction to unfold in gold and silver which will take gold prices back to $1,300-$1,500 before the next major rally begins.
The Road Map To New Gold Highs In 2013

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The Road Map To New Gold Highs In 2013

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