While we don’t typically begin with a monthly chart, it seems like a good place to start, as most of the good news is present there. Beginning on the left side, we can see how gold made a parabolic advance into an all-time high in 2011. Parabolic advances beg for correction, and boy did gold correct. It declined almost -50% into a low in 2015, then advanced for over three years into a new all-time high in 2020. During that time, a bullish cup formation emerged. After that, it consolidated for over three years (the handle), ultimately breaking out of a 12-year consolidation. I think it is an important point that gold took over 12 years to digest the huge advance into the 2011 top. In my opinion, it puts a solid floor under the most recent advance. Currently, we can see that gold has gone parabolic again, and it…
