The last two gold bull cycles, culminating in peaks in 1980 and 2011, were both followed by a price correction and then a multi-year consolidating pattern.
However, the highs of last year do not indicate a multi-year peak, as gold is still in a long-term bull trend, said Chris Vermeulen, chief market strategist of TheTechcnicalTraders.com.
“We’re looking at roughly $2,700, give or take, up there to the upside, and based on the pattern that has unfolded, I would say it could be reached in the next one to two years, that would be probably the earliest,” Vermeulen told David Lin, anchor for Kitco News.
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.