Gold Price Forecast: Gold Retesting Breakout

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After surging to a new all-time high of $2,074 in August of this year, gold has since come back to $1,848 for a low in late September. The precious metal is currently trading at $1,890 spot.

Retests of former all-time highs are common in the capital markets. The market is daring buyers to step back in and purchase where they did several months ago. The bias for this scenario is that buyers will once again present themselves as they did in August.

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Gold Price Forecast: All-Time High Breakout Underway

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Gold has just broken out to a new all-time high, eclipsing the former peak of $1,920 set on September 6, 2011. As this article is going to press, gold is trading at $1,983 in the worldwide spot market.

This is a huge moment for gold. All-time highs do not occur every day, nor every year, nor even every decade for the historic store of wealth.

gold price going up

What now? Will gold make a second long-term peak as it did in 2011 and enter another multi-year decline? Or is there a sustainable bull market ahead?

In this article, we will examine the historical precedents for gold as it has broken former all-time highs, and then calculate realistic expectations for the price of gold over the next year based on an observable price pattern

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