The price of Gold made a new all time high last week. A quick guess would put near 1200 as a level to watch if price returns to the 1×1 angle of the 1999-2008 range.
A look at the retrace during 2008 shows price would move about 50% of the correction higher to near 1200. This is not an absolute level to expect a high. But it is a place traders can consider taking some or all profits should the price of gold continue higher over the next several months.
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