via INO.com - Adam Hewison

Adam Hewison called a decline in gold prices, but was looking for a $200 decline.

Over the long term, a 61.8% retracement based on a Wave-One extension from 253.20 - 1923.70 is ~1285, a 50% retracement based on the move from $681 to 1923.70 is ~$1305. That fulfills both corrective pradigms of 50% of the move from $681 and a 32.8% correction of the entire move from $253.

Both these levels which are very close are being tested in the decline. The monthly close will be important. Goal posts have moved, but the analysis remains intact.

With respect to the bond market, you have a very similar pivot point as you had in gold prices that was recorded at a low in March 2012. Very likely the bond market will decline below that pivot point.

Take in some of the technical analysis:

http://www.ino.com/blog/2013/06/the-next-100-move-in-gold/

-F6