From the monthly interval chart we can see we are currently in the final monthly wave of this consolidation of quarterly wave Q-4. The chart shows the wave count as Q-4/M-5/W-5/D-5.
On the futures gold is expected to test the W0-3-4MLU at 1135 this month to make d-2.
The extreme correction projects to April 2018 at 783, being Q012MLL and W0-3-4MLU.
The ideal correction projects to Q012SPMLU to Q3, and the 3 projections are Oct 2016 at 903, ideal July 2016 at 899 and early May 2016 at 894.
Due to action / reaction of Q3 overshooting Q012MLU a spike panic low projects to March 2017 at 785, ideal Dec 2016 at 745, and early projection is for June at 834.
On the Gold spot monthly interval chart we have the same wave count. I have drawn in the double amplitude monthly consolidation line which once breached should indicate that Q4 is in place, resulting in the continuation of the Q bull market. It gives the extreme projection as August 2017 at 783.