Gold continues to ascend to new heights. While the latest strength has accelerated and risks an exhaustive spike, the advance remains rather orderly. Since bottoming in July, the yellow metal has rallied in roughly 50 point increments then corrected 26 points before resuming the uptrend. Although, there is no clear wave structure, overbought daily RSI suggests a pullback at current levels. The measured correction would take Gold back to the 1270-1275 region before once again resuming strength. A swing low above the previous all-time high set in June would secure the chance of further upside towards the 1316-1320 area, where a cluster of Fibonacci extensions reside.
STRATEGY: BUY GOLD at 1275, risking 1258, targeting 1316
