In my view, Gold in next 18 months is headed towards $ 1050 (30 % lower from its present level of around $ 1385 (18.04.2013). It might well happen within 6 months (i.e. sometimes between September’2013 to November’2013). It may bounce back to around $ 1450 before starting its downward journey again.
The final low may be as low as $ 750.
Various resistances on the way down shall be :-
(1) $ 1326
(2) $ 1256
(3) $ 1166
(4) $ 1068
(5) $ 987 (major Resistance)
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