In February 2016, we published a blog called Gold: Will the rally extend or fail? in which we had a look at Gold cycles against major World currencies and then presented an in-depth Elliott Wave Analysis of XAUAUD (Gold – Australian Dollar) instrument. Our preferred view called for a dip towards 1606 – 1565 area followed by resumption of the uptrend. Instrument dropped to the above mentioned area and started rallying as expected. In this video, we present the updated Elliott Wave count of XAUAUD and also look at the short-term, mid-term and long-term targets in the instrument.