My Gold analysis right now is that I can’t see any scenario where Gold will go back down under $825 an ounce, and if we get a good short squeeze going, the upside could blow the doors off as we head straight up to 1,200+. While many traders have been frustrated with the Gold market for the past several months, it has in fact performed quite well given the positive movement higher for most markets.
While the printing press is going at full-tilt in the US and the fact that most people are not involved in the Gold market at the present time, it occurs to us that this market could indeed be setting itself up for a nice rally. Checkout this short 6 minute charting video on Gold and some key levels to watch.
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