Last week I told you about gold’s long-term prospects: $5,000 at least.
And if you’ve been following my shorter-term forecasts for gold, then you know that they’ve been spot on. I’ve been calling for an extended short-term cycle low — which we got on December 15 at $1,124.30 in the February 2017 futures contract — and then a rally.
That rally is now underway, and this past Friday gold hit as high as $1,207.20.
Here was my previous AI Neural Net forecast for gold, then I’ll show you an update:
You can see the rally through January 12 on this chart. You can also see how the rally should stair-step higher in mid-April before a mild pullback sets in.
How high can gold go by then? Not a whole lot higher. Maybe $1,350 to $1,400.
Now, here’s my latest AI chart for gold: The shape is changing a bit, as it should be, but the overall forecast remains the same: A rally in April before pulling back. Note that this chart is a tad behind the action, since my live forecasts and AI charts are reserved for members of my paying services.