Recently we also mentioned that gold is heading for 1200 when gold price is at 1300.
Last week, it indeed ended at bottom of 1179. Today it is 1250.
Probably now there will be a support and gold will have a short term rebound. But long term wise, we think gold is still going into a long term bear market. Avoid holding on to gold for the long haul. We predict that after breaking 1200, gold will have a SUPER STRONG support at 1000, where it is likely to to be a strong support for at least a year or two.
Short term, gold has a resistance at 1320.
Rgds
Daniel
www.danielloh.com
