These downvotes for absolutely no reason are ridiculous.
Hopefully my comment can be seen by replying to my reply.
I have a subscription to Tradestops.com and Dr. Smith is an expert in systems science and cycles analysis in particular. I also subscribe to an options trader who retired when he was 42 after making millions managing rich people's money in California. Both have used their trading tools, indicators and proprietary cycle analysis to suggest gold will hit $1550 this year. I have two other newsletters with two of the worlds greatest resource investors (One is a billionaire only from resource investing and the other is worth hundreds of millions of dollars as one of the worlds greatest speculators). They are all saying now is a remarkable time to invest in resources including gold. One reason is that the price of commodities when compared to stocks is at a 47 year extreme. Stocks are expensive and commodities are extremely cheap. Things expensive alway revert to their historical mean. Things cheap always revert to their historical mean.
I like your Elliot Wave posts and follow and learn. I'm also invested well in commodities and resource mining companies. I don't think because of my investments I have a bias. With the 4 experts I pay for research and their knowledge and experience. I'm going to have to let time determine if there is merit to your gold analysis, because it's completely inconsistent from experts that have a vested interest providing sound advice and the advice is all screaming in the same direction. Gold in the $700's would be back in a bear market. I think your analysis has a low probability of playing out. I mean no disrespect. The dollar is also under a lot of pressure and when the dollars falls, gold rises, because it takes more dollars to buy an ounce. Your analysis would essentially say that the dollar is going to have a big bullish move. That just doesn't seem likely given the dollar is being challenged as the world's reserve currency by China certainly and also by the fact that cryptocurrencies are becoming a legitimate alternative to fiat.