Gold is in a primary recovery pattern as it attempts to break above its 2016 peak of $1,378 per ounce. This recovery pattern appears over and over again throughout history – the success or failure of gold to maintain the structure of this pattern will pave the way for either a massive multi-year advance higher in the sector, or a grinding decline to last for the majority of the next decade.

We will have the answer to the question of which outcome to expect within the next 12-18 months.

It will behoove precious metals investors to pay close attention to the technical action and to tune out misleading rhetoric coming from both perma-bulls and perma-bears of gold and the precious metals sector.

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