GOLD - Whats now??

Gold is on a steady pathway up to retest and likely exceed the $1,000 per ounce level which has served as substantial resistance in the past.
Let’s take a quick look at gold’s Daily chart structure to see this happening as it unfolds.Price has now moved in a ‘1,2′ wave pattern and now appears to be completing a 3rd wave fractal move up which could push us the $20 we need to hit that magic “$1,000″ level yet again. Even if we find resistance again at the $1,000 level, if the Elliott Wave fractal drawn is correct, then the 5th wave fractal (which could be part of an even larger impulse) would be expected to take us above that level.

"According to GATA (Gold Anti Trust Action Committee), about 15000 tonnes of gold has been loaned by the Central banks to the Bullion banks for which they paid about 1% per annum. The Bullion banks then sold the “loaned” gold on the open market and invested the proceeds at 6-7% per annum. It was a sweet deal until the gold prices started to move upwards.

Happy Reading!!