As predicted, gold has eclipsed the $725 high set in May 2006 and now sits at $740 USD per ounce. Much of the run-up can be attributed to the decline in the US dollar as well as investors seeking safe haven amidst the uncertainty of the sub-prime credit crunch.
Last year, I predicted that gold would push past the $725 mark sometime in the late summer of 2007. Although I thought August would be the most likely time, one month late isn't too bad as far as getting time windows right. The fundamental chart factors still obtain, as Jupiter is now moving forward just past the MC/Rahu/Neptune conjunction, while Uranus applies to natal Jupiter. These are both strongly bullish influences.
I believe gold is likely going to continue higher until November when Uranus stations and Jupiter moves deeper into the 11th house away. $800 is not unreasonable as a target. There will likely be a retracement as we get into December and January, perhaps back to under $700, although that price is very much a guess. The nodes will cross the ascendant at this time, so look for price volatility mostly on the down side. Towards late January, I think the bull run will resume as Jupiter applies to the Sun-Mercury-Venus in Sagittarius. This looks very positive for gold. In May, Jupiter will station just a degree short of natal Venus, so that might be the window for another price top. I can't say if it will exceed the highs set this Fall, but it looks to be a substantial price rise.
