GOLD - TAKE A LOOK AT THE BIG PICTURE

As Gold prices have corrected over the last week, I think its time to once again take a look at a long term gold chart.

Mr P. Radomski of SUNSHINE PROFITS has an excellent long term gold chart

Perhaps the sell off can push gold down towards $1550.
Long term gold bulls must remain focussed on the long term trend.

As Jim Sinclair said on 14/5/2012 -

The price of gold is going much higher. the problems that give gold its reason to go higher are growing not waning.

GOLD CHART UPDATE

The months of June to early September have traditionally been months when Gold has witnessed sell offs.

Below is an excellent chart prepared by Mr P. Radomski of Sunshine Profits.
Do stop by his Sunshine profits site for some really insightful analysis on precious metals.
LINK:Sunshine Profits Tools for Effective GOLD & SILVER INVESTMENTS ...

Gold is testing the upper resistance line in the chart below.

I would avoid buying in at the current juncture but would instead await better opportunities over the coming months. An equity market sell off is likely to trigger a big correction in precious metals.