Gold's Biggest Test of the Decade 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Guilherme Tavares.
Following Gold's decade-long cup-and-handle breakout in early 2024, the precious metal went on to double in less than two years.
It experienced a blow-off top in January and has since pulled back 28%, marking the largest correction of its current multi-year run.
A similar pullback occurred during Gold's bull market in the 2000s, raising the question of whether this is another buying opportunity within a secular uptrend or the beginning of a much larger decline.
The Takeaway: After a historic rally, Gold is now in its biggest drawdown of the decade.
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