Huh? I just picked up my Barrons for today, August 3 and see no article about gold going to 1550.
The price action on Friday, Aug 2, was very bearish. Gold bounced back from what would have been a heavy loss (more than 2 percent loss). Then gold tried to rally and churned for a while as the bulls battled the bears...but alas...gold eventually started to grind lower ....and the gold miners started to sell off as the day progressed.
Gold will consolidate in August for a number of reasons...(1) it is now overbought with a 7 to 8 percent gain and (2) with equities continuing to rally, more money is shifting from precious metals to equities.
Plus, the fear factor is fading...there will not be a financial crisis for a while. Gold WILL return to 1550 but it will take years.