The correction seems to have begin and can possibly last through the middle of March depending on how deep the correction will be. Charts below I put together over the weekend but just did not have time to post yet. Will make further comment later as I am still pressed for time.
Gold hit the first target today and it the correction continues through mid March we could certainly see 1250 gold. Likely though is a hold up at the $1300 level for psychological reasons. This bull trend in the PMs is not over by a long shot and a correction here is actually healthy for the metals IMO. Shake a few out and resume the march. key is to accumulate as the blood runs and sell into the rallies, but you all know that.