#GOLD Chart Update:
What if... just use your imagination and alternative mindset here..
What if we today are following in the same footsteps as the end of the dotcom bubble leading into the GFC of Gold?
Keep in mind, this chart is Gold relative to $SPX.
Notice at the end of the 2000's bubble burst, gold's outperformance of equities started rising up kind of foreshadowing the next crisis in the GFC. It sniffed it out years in advance actually. And once chaos occurred, gold really shined whereas equities did not.
Are we doing something similar here where at the end of the 2022 inflation fears bear market gold bottomed and is now starting to create this rounding curl formation just like the prior rounding formation before the massive breakout?
Certainly seems like it.
This can play out for the next few years up to the end of this decade perhaps so there's still ample time where we can see gold oscillate and create a base here and then breakout towards $10,000+. Yes you read that right. The first breakout into the GFC was a 300% gain from the breakout point.
Today we are only at 100% or so. We could easily double and then some again.
The chart looks eerily similar.
-Heis
Show original
63.27K
416
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.