Gold where from here ?
In August 2007 gold was at 650 $. From there , by march 2008 it came upto 1033 $. A rise of 383 $ . Its 50 % is 191 $. Gold fell from 1033 $ till 845 $.So a fall of 188 $ (approx equal to 50 % of fibonacci retracement).. . .
Gold bounced back from low of 845 $. Now 50 % of 188 $ (1033-845) is 99 $. Then possible up target is 845+99=943 $(high till now is 946 last week).
Gold falling back now.Current price 934 $. Thus possible down targets
1) 38% of 99 (946-845) is 37.6 $.
So 946-37.6$=908.4$. . . .
2)Now 50 % of 99 is 49 $. So 946-49 $=897 $. . . Thus gold one can hope for a correction dip which is healthy for the bull run. . .
Please note *
1) All rates are in spot gold price.
2)calculations are not of exact numeric quality.
3) It's Not trying to prove of any assured down fall.
4)use your own logic