Gold prices continue to correct from the new all-time high set on August 6, 2020. On that date, gold hit $2,074 per ounce – the highest cost to purchase one ounce of gold in the history of mankind. Since that point, gold has corrected some $226 or 10.9% to the recent low of $1,848 on September 28.

What is next for the price of gold? Has this been a major long-term top, or is there more upside to come?

Our analysis suggests the later – that gold is about to embark on a major new up-leg which should take it well above the recent $2,074 high.

Further, the timing of this next advance may be sooner than most people expect… perhaps as soon as weeks following the US election on November 3.

The time to prepare for this investment scenario is now.

 

Gold is Retesting Its Former All-Time High

It is critical that investors grasp the big picture for gold: the 5,000-year store of wealth is presently retesting its former 2011 all-time high resistance zone:

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