I decided to see if the gold price was Fibonacci-friendly, and the chart below plots the key retracement levels from the bottom back in 1999 through to its peak in late 2011.
Here's the chart (I manually added the 23.6% level at $1,522):
Who knows what will happen, but the fib levels seem significant, so I'll be saving my pennies to buy the bottom at around $1,081, and I reckon it's coming within the next 5 weeks, in the midst of a liquidity crisis as stock markets take a dive.
I'm not expecting the 61.8% fib level to be hit.
Time is running out for buyers in my opinion, and the next leg of the secular bull is likely to be the most explosive and volatile we've seen since the late 1970s, so hang on tight.