How Far Can Gold Go?
No one knows. Gold is now in a bull market, as we proposed in our February 1, 2016 post in this space. It is not behaving at all like the false springs of 2014 and 2015.
How Far Can Gold Go?
No one knows. Gold is now in a bull market, as we proposed in our February 1, 2016 post in this space. It is not behaving at all like the false springs of 2014 and 2015. In fact, the upward turn from the bottom exceeds in size and speed all but two of the bull markets of the past. So, we can probably look to previous gold bull markets for some guidance as to where the gold price can go.
The chart below from TheDailyGold.com puts previous gold bull markets on the same grid as the current market. The origin starts with the low of US$1050 in December, 2015 and moves to the right in time, out to the end of March, 2020 which coincides with the longest bull market on record (1970-74). The left scale shows where the prices would have gone for previous bull markets if they had started from the same point as the current one.
The gold price climbs to extraordinary levels, as you can see. Obviously, these are not targets. But perhaps we should entertain the idea that if this bull market is like those of the past, it will not be a tepid affair.
