Are gold prices setting up for another leg up?
Gold's current bull market has lasted 105 weeks with a 64% return, well below the historical average of 250%. Given past trends, gold prices may have more room to rise as uncertainties persist.
Gold prices have been on a steady climb in recent years, raising questions about whether the current bull market could extend further. Historical data provides some insight, suggesting there might be more room for an upward move.
Since 1971, gold has experienced seven major bull markets, with an average duration of 199 weeks and an impressive average return of 250%. These periods of sustained growth have varied significantly in length and return, reflecting different economic and market conditions over the decades.
The longest bull market in gold lasted an incredible 445 weeks, during which prices surged by 294%. In contrast, the shortest bull market spanned just 33 weeks, delivering a modest 65% return. Notably, the strongest bull market occurred in the 1970s, a period marked by high inflation and economic turmoil, when gold prices soared by a staggering 701% over 177 weeks.
In comparison, the current bull market has lasted 105 weeks with a return of 64% so far, which is well below the historical average in both duration and performance. This suggests that gold prices could have further upside potential if historical patterns hold true.
Market analysts often look at past bull markets to gauge future performance, and the current trajectory seems to indicate that gold may be setting up for another leg higher. With ongoing economic uncertainties, geopolitical tensions, and shifts in central bank policies, the conditions appear favorable for continued investor interest in gold as a safe-haven asset.
While past performance is no guarantee of future results, the historical data provides a compelling case for potential further gains in the gold market. As investors weigh these factors, gold could be poised for another significant rally, building on its current momentum.
Credit - KobeissiLetter
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