Summary

The intermediate- and long-term indications are for gold to revert back to its mean price, which may mean gold reaching all the way up to $1386 or even $1400.

If gold drops to between $1269 and $1256, I recommend buying gold, since you would be buying at the bottom when gold is at an extreme price below the mean.

The short-term indicators for gold are bearish, which may lead to just such a buying opportunity.

n my weekly report published in Seeking Alpha on November 27, 2017, I indicated that the Variable Changing Price Momentum Indicator (VC PMI) weekly trend momentum was bullish. I argued that with gold closing at $1287, the market had maintained a bullish bias, which would continue as long as the price stayed above $1285, which was the 9-day moving average.

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