Jun 08, 2021 Guest(s): Chris Vermeulen Chief Market Strategist, The Technical Traders
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.