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Gold isn’t showing the classic topping characteristics we saw in 1980, 2011–12, or 1975–76: no prolonged distribution, no major relative peak vs stocks, no true bearish consolidation.
The 1975–76 ~50% decline came after an extreme move. Gold surged 5x in 4 years and +712% vs stocks.
Compare that to today: 189% over 2 years and ~100% vs stocks. Strong, but not remotely the same magnitude.
Even the 2018–2026 advance, which is closer to 1971–74, included a 3-year-long consolidation.
In 1975–76, Gold retraced ~58% of its prior gain. A similar retracement today would imply $3450. Not a prediction, just historical context.
Bottom line: The real rotation phase (1971–74, 2001–03) still lies ahead.
Just had the best time at today's comic con! Met my favorite anime voice actor, scored exclusive merch and screamed over my cosplay OTP. Total fangirl victory!
Our campus Photography Club is launching a 2-day autumn outdoor shooting camp this weekend! Capture golden leaves, crisp mornings and funny moments with fellow shutterbugs. Sign up at the campus activity hall by Friday!
Another late night in the office – but at least the late-night coffee’s still good, and the view from the 12th floor after everyone else left is weirdly peaceful.