The common gold cycle usually averages between 22-26 trading days between turning points. I fully expected a cycle low to form this time, but it now looks like we will see a high instead. We are 24-trading days into the current cycle, and prices should top between now and Wednesday. Then prices should reach a pullback low between January 30th and February 3rd.
Investors are growing impatient. Fearing prices won’t correct, some will buy just as this cycle tops. If gold rallies past $1,225, we could see a push to $1,250 as panicked buyers rush into the market.