Gold to $2500 by 2023

9 maj 2021

In some ways I feel this is a conservative estimate, and on the other hand it could get caught up on a lot of resistance on the way there. Nevertheless, gold has recently made a clear breakout of it's multi-month consolidation period (red lines), aka bear flag that started a few years ago. If this is the case, it is likely to continue a similar uptrend (green lines) that the bull run started off on. Using fib extension, the next 100% move is around $2500. As for timing, no idea. In the title I say 2023 because that is where the green trendline intersects the 100% move on the fib extension.