Date : Wed, October 16, 2019
Source : fxempire.com
Author : AG Thorson
It appears each decade has an investment theme that favours one asset class over another. What performed well over the last decade generally underperforms during the next.
It is surely impossible to get into at the bottom and out at the top in real-time and the transition period from one assets class to another usually takes a couple of years . Ultimately, the key is in recognizing it. After a 10-year bull market in stocks, it stands to reason another asset shift is unfolding. That combined with the recent breakout in gold leads me to trust that the next decade will favour precious metals and commodities (tangible assets).
Gold broke out of the 6-year basing formation in June when prices closed above $1400 and the overall structure is similar to the 1997 – 2003 rounded bottom that generated an 8-year bull run. based on this trend, I suspect that gold will work its way higher to finish the larger degree 10-year pattern and breakout to new all-time highs in the next decade.
One of the easiest ways to achieve potential price targets is with a simple ABC measured move and the initial advance (A) is followed by a borader correction into (B); the halfway point. By adding A to B, we come up with C (the price target). In this case, an A=C target suggests roughly $8000.
An $8000 price target aimed for gold almost sounds ludicrous. But what could cause prices to reach such extreme high levels?
Will gold reach $8000 during the next decade? In all honesty , I have my doubts as well. However, I do see the potential for the above ingredients. Whatever the outcome, I think a new gold bull market is just getting started and investors should consider revision in allocation.
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