Alf Field
Alf Field was born and raised in South Africa. He is a Chartered Accountant by training. Together with a partner, he started his own funds management business in 1970 in Johannesburg. In August 1971, when the USA stopped converting US dollars for gold at $35, Alf perceived a major opportunity to buy large quantities of gold mining shares personally and for clients. In 1979 he migrated with his wife and four children to Australia. He is currently a self-funded retiree who manages his own portfolio. In 2002 Alf started writing articles on gold related subjects, including monetary history, as well as a series of gold price forecasts using the Elliott Wave technique.
Alf Field Articles
Gold Update IX indicated that there was a high probability that the 5 month correction in the gold price finished at the $560.7 London PM fixing on Friday 6 October 2006. That is exactly what happened.
There is nothing that possesses all the qualities of money in the way that gold does, so there really isn't a competitor to gold as "the ultimate money".
There is a high probability that the 5 month correction in the gold price has ended. Often there is a relationship between the lengths of the A and C waves of a correction, sometimes C equals A and at other times C is only 61.8% of A.
At...
Gold has been correcting for 4 months since the 12 May 2006 peak. It is time to consider whether the correction is nearly over or whether we can expect more down or sideways action.
Last week, if you felt like the person in the cartoon below, you were probably in good company. It was a gut-wrenching downward plunge that challenged the emotions. Relax, there is some good news.
In "Elliott Wave Update IV" published on 19 February 2006, the following was the summary of my views on gold at that time:
Summary of Gold Update IV:
The current gold price correction has probably been completed in terms of price magnitude but the correction may not be completed in terms of time duration and complexity. The next upleg should take the gold price above $800 with only two...
In August 2003 I published an Elliott Wave forecast for gold which suggested that the target for the peak of the first major wave of the new gold bull market was $630. This target was affirmed in subsequent articles, the most recent being...
I regret that (blush, blush) I must admit to an error in my article of 13 January 2006 in which I calculated a long term price objective for gold of $4,250 and a shorter term price objective of $785.
My error was in suggesting that it was...
With the gold price pushing to new 25 year highs, it is probably a good time to take stock of the longer term picture to see where the gold price might be heading. This will also enable us to see how far we have progressed into the new...
