Now that gold has moved to higher ground I like to update old projection made in 2017 after gold bottomed at $1045 based on Alf Field’s theory from 1970 n repeated in 2009.

Below is the post from 2017. Interesting comments in the post.

Alf Field’s theory from 1970:

“The beauty of EW is that the corrections in gold are remarkably regular and consistent.”
“Using this method I calculated that the gold price should rise from the $300 ruling in 2002 to at least $750 without having anything worse than two 16% corrections on the way. That was valuable information at that time. Furthermore, from the $750 target a big 32% correction could be expected to about $500. Then the bull market would resume, rising to perhaps $2,500 before another 32% correction occurred. The final up-move would take the gold price to much higher levels, possibly $6,000. Once again, a valuable insight when gold was $300 in 2002.”

Following the past major corrections brings gold highest level.

2006 correction: -27.5%
2008 correction -34%
2016 correction -45.6%
After this last correction following post outlined future path of gold.
Now that gold has moved highest a new Forecast is in order using FIB 5 or 8 times from recent bottom $1045.

Forecast 5 time FIB = $5225
Forecast 8 times FIB = $8360

Gold Perma bull of 200 years