Gold Futures Vs. XAU Index

Market timer SemiBizz on Traders-talk.com thinks the XAU will go down to 56, this chart shows XAU on the top and Gold Futures on the bottom for comparison purposes. I remain skeptical that XAU will go that low but he could be right.

Gold low July 10, 2013, high Oct-Nov 2016

This chart shows the low should happen this year as it gets down to the 1000 area of support. So low should be July 10 this summer and high 2016. Hope you enjoy my 'Gold Theme' chart design. ;)  One caveat is that my GDX chart is showing a possible low this October but that is the gold stocks.

Gold low for July or August

The oscillator is pointing towards July 10th for a serious low, which also happens to be the pi cycle time applied to the debt crisis which is about July 7th.
Note the RSI approaching the 1999 oversold level. The low may happen in July/August or as late as October which the GDX chart has a trend for, that could imply a re-test of support then. The 1000 area appears to be solid support on the chart regardless of when Gold gets to it.