All that can be said "for certain" is that nothing is certain at the moment: Positives
•Commitment of Traders (COT) Reports are positive for both Gold and especially for Silver - http://nowandfutures.com/images/cot/GC.png http://nowandfutures.com/images/cot/SI.png
•Sentiment is extremely negative - http://www.goldalert.com/gold-sentiment/
•A strong move up off the print low of December 29thAlternatives
1.Completeing Wave 4 of C of ABC now with wave 5 of C ahead (print above 1,667 would eliminate this count) 30%
2.Completing Wave B of ABC now with the entirety of Wave C ahead (most bearish targeting 1,440 - then 1,272) 20%
3.Wave 5 of C of ABC complete at 1,523.90 - in early stages of new impulse move higher 30%
4.Wave D still "in progress" up to 1,750 to be followed by E (ending above December low of 1,523.90) 40%
If (count 4 above) Wave D is still "in progress" it could end here, but for "the right look" should move near 1,750, which is what I would expect. If we move down "hard" from here - this count will probably move to the "low probability pile" as will count 3 and counts 1 and 2 above will move up in probability.
Bottom line - whether the low is in or somewhat in front of us at lower prices - this is the time to accumulate for the next move up, which should be the most powerful leg of the Gold Bull Market over the next 2-3 years!