The market's unable to make it back to the 18-day average. So it's been doing the fighting in this case at the 100-day average. If the market collapsed, $2542 is in the picture.
I'm certain that this breakout is kicking off the final phase of the bull market and all you have to do to make really good gains every year is just trade two intermediate cycles a year.
The market stopped at the 18-day average of closes. Should it break a lot from here? Well, I think reaching for $2189 would be a dream, I don't think that would happen.
Gold ought to remain robust in 2025, and American stock investors are still likely to drive gold much higher. Miners’ stocks should prove the biggest beneficiaries as they normalize with their metal.
Now, you're back to higher lows and higher highs, the resistance should be the 18-day average of closes and right where it's fighting now which is the $2652.20 area – the 100-day average of closes.
The world is likely headed toward a mix of deflation and inflation. The uncertainty is good for gold, and it will encourage unconventional risk-taking among money managers.
We're really probably not going to look for a top until 2028. As long as that remains in effect, then any long position in the metals is going to be a winning trade.
