Gold Futures (U.S. $612)

In my August 13th Comment, I speculated on the possible short term correction of the Gold price to the 100-Day Moving Average. We've done that and have continued on through, heading for the 200-Day Moving Average in the area of $585. I probably should define this backing and filling as an intermediate term correction on its way to completion. If I use this terminology, I would have to say the long term trend remains strong.