This is the GLD but should apply to any gold investment option as this plays out. Very long term cup and handle pattern on gold's chart. Weekly candlesticks here with the beginning of the cup starting back in 2011. Handle is forming right now. Might not see the lid tested until 2024, with the full trade playing out potentially as long as 2029. That said, some targets are met very quickly after the lid breakout, something like 2025 in this case. With the price of gold currently at ~$1780, a 54% increase from here would put it in the $2740 range.
Commentaire:
Catalyst for breakout to upside would be inflation.