This chart predicts $4,000 to $8,500 gold
The current gold bull market is just over 6 months old, and while it has not been a gentle ride, it is very much expected considering the volatility of previous bull markets. That being said, we are just getting started. Using a sports analogy, according to our estimates we are not even halfway through the second inning using the average duration of the previous three bull markets.
Here is what the current gold bull market could look like if we used previous gains as a proxy:
Historically, the longer the preceding bear market, the longer the bull market that followed. When the bear market ended in December 2015, it marked the end to the longest gold bear market in centuries. We predict the current market will match the 2001-2008 bull and then some, and gold will break $5,000 an ounce when it’s all said and done.
On another note, the entire Palisade Global team will be in Toronto at the end of the month for the Mines and Money conference. If you have any mining related opportunities or would simply like to meet, shoot us an email at [email protected]