Gold Sets Up For Another Massive Move Higher

4 March
Gold Eagle:

Our research team believes the recent downward price activity in Gold and Silver are indicative of past price patterns we saw in Gold over the 2007 to 2012 rally.  Throughout almost every rally in precious metals (Gold), there have been a number of moderate to serious price corrections taking place within that extended rally.  The current downside move is moderately small compared to historical price rotation in Gold and potentially sets up a massive upside potential rally to levels above $2100 per ounce.

Weekly Gold Price Pattern from 2007 – 2017

This chart, below, highlights the downside price rotation that took place just before and as the US stock markets collapsed in late 2008 and 2009.  Notice how Gold collapsed nearly 28% right as extreme market weakness began to become present in the US stock market.  Then, pay attention to how Gold rallied from $730 in multiple upside price legs to a peak just below $1900 – well above 110%.  Could the same pattern already be setting up in 2020?

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