…[History clearly shows that] bear markets are the catalyst for big moves and bull markets in Gold [and now, with] odds favoring another leg lower, [that] will be more than enough to get Gold to break out and hit my $4,000 target by the end of 2024.
This version of the original article by Jordan Roy-Byrne (thedailygold.com) has been edited [ ] and abridged (…) to provide you with a faster and easier read. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.
Let’s take a trip down memory lane.
- From 1969 through 1974:
- the S&P 500 had declines of 37% and 50%…[and]
- Gold gained 460%…
- Then the S&P corrected another 20% and 15% and
- and Gold gained 140% before going parabolic.
- In the [early] 2000s:
- The S&P 500 had twin declines of 51% and 57%, along with another decline of 21%.
- Gold gained 650%.
- From 2011 to late 2018:
- the S&P…only declined 13% and
- Gold performed poorly.
- From August 2018 to August 2020:
- the S&P 500 had declines of 23% and then a 36% crash during COVID-19 and
- Gold advanced by 85%.
- As 2022 began:
- the stock market remained at all time highs with
- Gold had been correcting for 17 months.
- [I have written for months]…that Gold would not perform or break resistance until a significant correction or bear market occurred in the stock market…and,
- with the S&P 500 down 24% YTD and odds favoring another leg lower…[suggesting] a 35% to 40% bear market…
- [that] is more than enough to get Gold to break out and hit my $4,000 target by the end of 2024.