Over a decade ago, gold rallied past its 1980 highs and over $1,000/oz at (1) on today’s chart.
That rise to new highs was met with a 30% correction at (2), followed by a blast-off rally to new highs.
Is Gold Setting Up For Repeat Of Its Past?
Gold recently rallied past its 2011 highs and above $2,000/oz. Could gold soon turn lower for a sharp correction before another blast-off toward $3,000?
If so, gold bulls should look for a pullback, before blasting higher. Stay tuned.