| Gold appears to have its price hanging on a dodgy thread. Our "big picture" report back in August had proposed the possibility of weakness to $1,248 and this movement is proving rather accurate. Accurate, aside from the unpleasant detail our $1,248 was briefly broken during the Friday session.
This opens the trapdoor to incredible levels of doom. The situation now is we must regard gold as heading to a bottom of $1,163 on the current cycle. There's a chance $1,218 will provoke some sort of bounce but, unless some miracle can get the price above 'blue' (Currently $1,339), we've little choice but to view $1,163 as very possible............................................Full Article: Source
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