gold-price-forecast-–-gold-prices-could-reach-$1660-in-september

Gold Price Forecast – Gold Prices Could Reach $1660 in September

spike-high we forecasted in gold last week appears complete. Prices collapsed to $1874.20 by Wednesday before rebounding. We think gold could retest support near $1660 in late September, which will present the next great buying opportunity.” data-reactid=”12″ type=”text”>The spike-high we forecasted in gold last week appears complete. Prices collapsed to $1874.20 by Wednesday before rebounding. We think gold could retest support near $1660 in late September, which will present the next great buying opportunity.

Gold and precious metals are extremely cyclical. Roughly every 6-months prices form an intermediate cycle low – the last low arrived in March. The current decline is just starting and may last 4 to 6-weeks. Our preferred target window (gold chart below) supports a bottom in late September or early October.

Gold is in a powerful bull market – we do not recommend shorting or trying to trade every swing. Today’s markets are more volatile (news-driven) than ever – one black swan event could wipe out your entire trading account…if not properly managed.

After peaking at 450, our Gold Cycle Indicator (currently 373) is declining – suggesting metals and miners have started their intermediate-degree corrections.

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Noticing the shift in volatility, we switched to an accumulation strategy adding to our long-term holdings only when the Gold Cycle Indicator falls below 100. This strategy dramatically reduces stress and trading anxiety.

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We continue to like miners and platinum going forward as we believe they will continue to play catch-up to gold.

here.” data-reactid=”72″ type=”text”>AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, please visit here.

economic calendar.” data-reactid=”73″ type=”text”>For a look at all of today’s economic events, check out our economic calendar.

article was originally posted on FX Empire” data-reactid=”75″ type=”text”>This article was originally posted on FX Empire

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