DislikedGoing to quote you on this prediction.
I'm not sure about some of the insults (above) against an entire forum thread, but rest assured that anyone with experience knows that price action goes both up and down.
Wealthy people in a lot of countries without stable currencies (inflation is extremely high in the majority of countries) have bought into gold in growing numbers. My opinion is that once price reaches a certain level in correction, large-scale buying will continue, and more speculative spikes await. As the US dollar is gradually...Ignored
Gold had already filled it's 30% or so rise for this year. You may draw as many charts as you wish or argue about fundamentals forever, but the same rich people you talk about also buy gold (or any investment fortha matter) ONLY at good reasonable prices because most are baragain hunters. The majority of them do not know or care about technicals or fundamentals and leave it for trend followers who lose most of the money in this business.
Sorry, but that is the harsh truth about this business otherwise everybody would have been rich by now