WaveTrack International

Elliott Wave Financial Price Forecasting

XAU – Gold/Solver Index

by m.tamosauskas| January 31, 2014 | No Comments

03_XAU Gold_Silver Index 140131b

As gold and silver continue their declines from the 2011 highs, the consensus bearish expectations are gradually worsening to extreme levels. Many financial institutions have begun the year by lowering their targets for 2014 whilst the latest batch of sentiment figures indicates very few people are willing to risk investing in this asset class.  This is a carryover from last year when hedge funds and retail investors liquidated their physical gold holdings to the lowest figure in five years. In fact, this shouldn’t be a big surprise – gold’s year over year performance is the worst since 1981. But as we all understand, bear and bull markets don’t exist forever, at some point they exhaust and the next cycle will take a lead. The million dollar question is when will this next event occur? Our Elliott Wave analysis suggests the precious metal declines will complete within the next few months and then begin a dramatic turn-around! Gold can easily double in price whilst silver can triple, moreover, even more upside can be expected from selected mining companies! In this special EW-Compass monthly Bonus chart we are providing an Elliott Wave analysis of the XAU – Gold/Silver Index – a mix of gold and silver mining companies. Short-term price development indicates some continued range-trading following the June-December lows of 2013 but once completed, a final decline unfolds into our projected lows – see chart below. Two additional charts with a longer-term perspective are included in this month’s special EW-Compass Bonus report so don’t miss this opportunity in taking a look at our forecasts.

Category: Gold, Silver

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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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