As of 4:11 PM EDT gold futures have maintained a price above $1500 per ounce, with the December Comex contract currently at $1506, a net gain of $2.80 on the day.

Editor’s Note; today’s video report is a special edition of the Gold Forecast, Part 2 (part one was yesterday) in which we will look at current pricing through the eyes of an Elliott wave model.

Now for the fourth consecutive day gold futures have traded lower, in today’s case moderately lower. As of 4:26 PM EDT, December futures are currently trading at $1494.80, after factoring in the current decline of $16.30.