lets call this a measured move... gold just went from 1k to 2k in just a few years. once we break out decisively above 2k, then i expect gold will target 3k. so over the next few years, that is my next target.
so after a 1000 dollar move, we have a corrective period, then another 1000 dollar move. 3000 may not be the long term top, but it will be a definite resistance level.
of course i have been wrong before.
Gold futures climbed by more than 2% on Friday (link) to turn higher for the week, notching their first weekly gain in three weeks, as investors continued to assess the Federal Reserve's change to its monetary policy strategy. December gold rose $42.30, or 2.2%, to settle at $1,974.90 an ounce. The most-active contract is up 1.4% from the week-ago settlement, according to data from FactSet.
