Gold: Historical Comparisons Indicate Another Breakout Test Is Likely

Commodities Analysis by Jordan Roy-Byrne, CMT covering: XAU/USD, Gold Futures. Read Jordan Roy-Byrne, CMT's latest article on Investing.com

Only two of the breakouts retested the breakout. Those two were the two previous breakouts to new all-time highs: 1978 and 2009.

Gold gained a whopping 136% from its low in 1976 to its breakout in 1978. From the breakout to the first correction, it gained 25%. Gold gained 80% from its low in 2008 to its breakout in 2009, and 21% from the breakout to the first correction.From its low in 2022 to the recent peak, Gold gained 50%, and the post-breakout gain was 18%.

After Gold retested its breakout in 1978, it gained 122% in 13 months, and after the retest of the breakout in 2009, it gained 63% in 13 months.

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