1. Starting point: the LOSPENPORT 2015 of $ 1,045.40
2. Reference highlight: the Middle 2020 height of $ 2,078
The ratio between them: $ 2,078 / $ 1,045.40 = 1,988
Let us now increase this ratio to the capacity of 1.618: 1.988^1.618 ≈ 3.03
Then, to find our target price: $ 1,045.40 x 3.03 ≈ $ 3,167.56
That gives us $ 3,167.56, which goes around to the purpose of $ 3,167 on the graph.
That said, let’s go to what the markets offer us today.
The ADP -not -agricultural labor numbers were much better than expected, but it does not seem that someone pays attention to it. Instead, everyone keeps Trump’s comments about rates. Because they are planned when the markets close, today’s session can be described as “peak uncertainty”.
This can also mean “peak gold” as gold serves as the safe haven. The way in which miners and silver perform today confirms this (just like the aforementioned long-term on Fibonacci-Ex extension based on Fibonacci-Extension).