Still plenty of non-believers. Every correction/consolidation should carry on getting people worried for a while yet. It's early days in the new (or continuing) bull. The charts have been screaming breakout and rally for months, with nothing (to my mind at least), supportive of a meaningful move down. Things can happen to catch us out though, so I never say 'never'.
The following chart shows why I think the 2008/09 pattern may well be a fair guide as to where we may be going. For a pattern to repeat it needs a repeat of the environment which caused it. I believe we are at a very similar point in the gold cycle which will push price up as it did then. There are a million things that could make it rise at a different rate (most of them making it rise faster). However, I drew over the top of the 2008-2013 move and copied it across to the present day. It's one possible roadmap. Interestingly it takes us to the $1500-$1550 region by April and then on to somewhere around $2500 in 2020. I think the biggest likelihood is that we will overshoot this by some distance. I'll call this my fractal of hope.
Just for good measure, here's an update of the CHF/USD ratio chart that I've posted a couple of times.
