The forecasting of gold prices has become very difficult, because the heavy involvement of the FED, the IMF and the gold banks' efforts to manipulate the gold price. One consensus has emerged, however: gold prices are still expected to go up. The question is when and how much?
1. We have seen the gold price break out on the upside, following a reverse head and shoulder. A forecast of 1,186 was met, so at least have a short term rally. Another forecaster declared that gold will be back in a new bull market if it closes above 1,250.
2. What about Larry? He insists that gold will dip below 1,000 then rally from there in mid November. How close Larry's cycle prediction track the gold price?
Not that close. If anything is discernible from this graph, it is a wedge formation that indicates a turn in November. Then the July low would become the bear market low.
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