Gold has been trading well above $ 3,000 since last quarter, which means that my prediction from late 2023 came true, even if late by a few months. However, 2023 wasn't the first time I mentioned this target. My first prediction dates back to January 2021. That's more than four years ago, so even thought I was right in the end, my call for $ 3,000 was a little too early to be impressive, or even noteworthy.
But now that the target has been reached, it remains to be seen if we'll be stuck in a sideways pattern for a while as predicted back in 2021. So far, new all time highs have eluded us. But will this persist for months on end? Only time will tell. As of now, nothing significant can be read out of the chart as to gold's next big move, and we can therefore assume that it won't be doing much for quite some time still.
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| Quarterly performance of gold up until May 2025 |
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