Will gold move below the important $1300 level?

It seems that my hunch was correct.

I can only count 4 waves in that (c) wave so that means that we still need one more leg down. That little bounce that we saw during the last couple of days was in my opinion a fourth sub wave of (c). And this sub wave looks almost overcooked so it wouldn't surprise me if we turn south again in the near future. I even expect a move below the "psychological" $1300 level. A move like that would be a great buying opportunity for what will come next!

We closed $7 lower than the intraday high. I expect that we will move down in a 5 way structure towards $1290. And I will load up my truck with gold/silver when we are there!