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After Gold Surged To $2,092 On Friday, Take A Look At This…

When gold finally got through upper $1375+ range in June 2019, it breached a 4-5 year multiple top chart pattern much like today. At that time in June 2019, the XAU index was about 82.5. However comparing back to those 4-5 years where gold had failed to breach $1375 on the upside, the XAU index had been trading much higher at 105, 115, and 95 at each of those intermediate tops.

Finally by March 2020, the XAU index reached the 113-115 top it made during August 2016. However in March 2020, gold was trading at $1700 some 24% above its intermediate peak of August 2016. So in the space of 6 years mining shares were no better than their highest peak whereas gold was 23-24% beyond its trailing 6 year peak.

Read article:  kingworldnews