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The last 2 gold bull cycles, culminating in tops in 1980 and also 2011, were both followed by a rate modification and then a multi-year combining pattern.
However, the highs of in 2014 do not suggest a multi-year top, as gold is still in a lasting bull fad, claimed Chris Vermeulen, primary market strategist of.
" We're looking at roughly $2,700, offer or take, up there to the advantage, and also based upon the pattern that has actually unravelled, I would certainly say maybe reached in the next one to 2 years, that would be possibly the earliest," Vermeulen informed David Lin, anchor for Kitco News.
0:00 – Securities market cycles
12:52 – Gold price forecasts
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$2,700 gold price ‘could be reached in 1 to 2 years’ at the earliest – Chris Vermeulen
The last two gold bull cycles, culminating in peaks in 1980 and 2011, were both followed by a price correction and then a multi-year consolidating pattern.
However, the highs of last year do not indicate a multi-year peak, as gold is still in a long-term bull trend, said Chris Vermeulen, chief market strategist of https://TheTechcnicalTraders.com.
“We’re looking at roughly $2,700, give or take, up there to the upside, and based on the pattern that has unfolded, I would say it could be reached in the next one to two years, that would be probably the earliest,” Vermeulen told David Lin, anchor for Kitco News.
0:00 - Stock market cycles
12:52 - Gold price predictions
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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