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Could gold eventually reach $8,000 to $9,000?

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Breakdown

0:00lesson

Gold chart analysis and annual momentum

  • Annual momentum of gold can't be seen here
  • Bearish on gold since 2012 after 2011 high
  • First drop triggered bearish stance
  • Gold collapsed from 1920 to 1050
  • 50% drop from peak
0:45lesson

Gold decline and logarithmic scale

  • Breakup looks savage on percent scale
  • Not significant on log scale
  • Gold legalized in 1976-75
  • Log scale reveals ratio scale context
1:15lesson

Gold bull markets and ratio scale

  • Two big bull markets: 1976-1980 and 2002-2011
  • Both eightfold moves
  • Bear low, bull high, bear low, bull high
  • Eight times your money
2:00lesson

Current gold position and scale distortion

  • Current low at 1050
  • Now at fourfold
  • Half the dimension of prior bull markets
  • Annual momentum sharp break not so sharp on ratio scale
3:00lesson

Gold price context and future expectations

  • Point scale distorts price movement
  • Current move not parabolic
  • If matched to prior moves, gold would reach 8-9k

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