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Gold Bulls Gotta Love This Pattern

Published 01/05/2018, 11:20 AM
Updated 07/09/2023, 06:31 AM

In 2011 we suggested that gold could be flat-to-down for years to come. Since then, gold is down around 30% and silver is down more than 65%.

2011 saw extremes in prices. And after nearly 7 years of lower prices, is the trend in metals about to change?

Below looks at gold and the US dollar over the past 27 years.

USD (top), Gold

This chart reflects the potential that the US dollar could be creating a bearish head-and-shoulders topping pattern, while gold could be creating a bullish inverse head-and-shoulders bottoming pattern.

While the odds that this read is correct may be low, the impact would be BIG for metals – gold, silver and the miners ––– if it is.

Latest comments

kimble i doubt anyone with O2 in their red cells will buy into the metal marketing schemes. better to buy a btc mining machine and park that on the floor to hold your door open and earn some cash, rather than let a lint catching, fee earning, gold brick to be door catcher.
What’s that supposed to mean?
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