On Saturday, September 12, 2020 we at Elliott Wave Forecast hosted a Free Seminar. The topic of the seminar was ” Generational Buying Opportunity in Gold and Silver?”. We analyze and talk about the outlook of Gold, Silver, and Miners.
In the seminar, we explain why the break to all time high in precious metal against US Dollar is likely not a terminal move and much more upside can be expected in years to come. We also explain why Silver has potential of even more upside due to Gold to Silver Ratio pulling back from all-time high.
Gold Monthly Elliott Wave Outlook
The monthly chart of the precious metal above suggests more upside expected to reach at least $2970 – $3428 area in coming years. This target is based on the 100% extension from all-time low. It’s also the most conservative target assuming a zigzag structure from the all-time low. The rally can see a lot more than this target area if it becomes an impulse.