The fundamental cheapness of gold is a fairly sideways chart. We are approaching a similar cheapness as was seen in 1999 to 2003 where we saw a ~700% rally until 2012. When we established a top in the channel in 2012, the market bottomed. It appears currently that it's not done selling off and has some room to run down, or is about to establish a sideways bottom soon. Personally, I would anticipate seeing the price EASILY hitting the top of the channel: countries around the world are not net buyers of US treasuries as in the 2008 liquidity crisis and therefore I don't believe that the dollar strength versus gold that took place after 2012 will be so drastic in the coming cycle.
I hope you enjoyed this chart and thanks for taking a look.
Good luck and don't forget to hedge your bets!
- your fringe chartist
I hope you enjoyed this chart and thanks for taking a look.
Good luck and don't forget to hedge your bets!
- your fringe chartist
Sorry about that :D