4 Major Catalysts that Will Push Gold Above $3,000

The gold price bottomed in late 2015 around $1,050 per ounce. It shot 30% higher in 2016 to $1,375 and then chopped mostly sideways for three years. Then in June of 2019, the price spiked powerfully higher from $1,300 to a new record high at $2,070, a move of 60% in the course of two years. Investors were optimistic that a new bull market cycle was underway. But the price crashed back toward $1,600 over the next six months.

The price is currently trading around $2,415 and gold looks poised to once again make a new high. It would only take a 24% move this time around for gold to breach $3,000 and I believe it is coming sooner than most people think.The chart shows the past two major bull and bear cycles. Taking the average of time and percentage gain between these two bull cycles, we might expect the current bull cycle to last for 4.9 years and generate a gain of 175%.

Source: Financial Digest (financialdigest.net)

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