Is Gold About to Go Parabolic to $3,495 in June ’13; $10,899 in Sept. ’14 and Top Out at $31,672 on Jan. 16, 2015? (+3K Views)

Lorimer Wilson March 24, 2012 1 Comment 4,593 Views

According to recent Elliott Wave theory analyses gold is about to go parabolic reaching $3,495 in June 2013, $6,233 in April 2014, $10,899 in Sept. 2014, $18,712 in December 2014 and culminating in a parabolic peak price of $31,672 on January 16th, 2015! See the chart below. Words: 600

So reports Jeanne d’Arc (www.screwtapefiles.blogspot.com) in edited excerpts from an article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited below for length and clarity – see Editor’s Note at the bottom of the page. (This paragraph must be included in any article re-posting to avoid copyright infringement.)

d’Arc goes on to say, in part:

Well known chartist Nick Laird (www.sharelynx.com) has been following the gold market for at least as long as there’s been an internet. He has used and talked quite a bit about Elliott Wave Theory, which is a not entirely uncontroversial method of linking investor and broader social psychology to market trends (and sometimes vice versa), often over decades-long periods. Elliott Wave Theory has had some notable successes and failures, and has its fair share of proponents and detractors…The fact is that for better or worse, EWT has very much a firm hold in many investors’ minds, and for that fact alone it is to be discounted out of hand at one’s peril.

Laird, with help from Geoff S, has put together an Elliott Wave theory prediction using ‘The Golden Mean’ & ‘Fibonacci Sequences’ to arrive at the above future prices for gold…He is hopeful that it will serve as ‘a roadmap which gold may take as it climbs to new highs‘.

Click to enlarge chart

Nick’s comments:

The first two uplegs (blue line) generate (through the formulas) the future uplegs (red line) as the price heads to it’s peak at W5(5). The Time, Price and Percentage of each leg up & down are shown on the edge of the chart.

So having left W4(A) behind the next 16 months we are heading up to W4(B). Presumptions are that the blue line (actual gold price) will stay above the red line for the first 1/2 of the next upleg falling to below the red line for the second half of the upleg and rising steeply into the peak of W4(B) as gold likes to do.

Perhaps gold’s final top is W4(D) or W5(1) or higher and perhaps the timing doesn’t play out right but this presumably will be something close to the shape of gold’s rise over the next few years.

Exciting stuff for gold holders. It’s not really for me to comment on whether or not I think this will or won’t happen, as all things are possible,…however, I can, I think, bring myself to point out the obvious. If $32,000 gold in 2015 were to come to pass then it would essentially accompany a devaluation of the dollar so quick, and so hard, that it would make your nose bleed.

The [above] chart is not just a roadmap for price acceleration in gold. It is essentially the road map for the disintegration of an empire, the ruin of the world’s reserve currency, and a time of fear not seen since Europe in the late ‘thirties. For that reason, if no other, then even though I own gold myself and would like to make a bob or two out of it, I hope that Nick is wrong. I hope that he is very, very wrong.

[I’m certainly going to be bookmarking this chart and checking back from time to time. If it works out with reasonable give and take then I think Nick will achieve Guru status within the precious metals internet community!]

*http://screwtapefiles.blogspot.com/2012/02/gold-at-32000-in-three-years.html (To access the article please copy and paste it into your browser.)

Editor’s Note: The above article has been has edited ([ ]), abridged, and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

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One comment

peterpalloy
March 26, 2012 at 8:29 pm

These astronomical rises in gold will not eventuate if something fundamental changes – like the ability to own gold is removed, or the license to print money is removed from the Fed, or a revolution in the US, or …
The question is, at what point does the system break down and why ? Any articles on this would be appreciated more than how high gold would go if everything stayed the same. Something’s gotta give soon.