Gold has rallied to an ATH on uncertainty in the markets extending the bear market rally...
The price of gold got a big boost in March at the time Corona virus was being unleashed on the country, and world. The markets hate uncertainty more than anything else and the virus along with economic ramifications has definitely created uncertainty. This is why people flocked into gold! Even with this event taking place it didn't do very much to effect the long term chart patterns other than to extend price and time. Fundamental events never start a new trend....they only help the current wave formation that is already being played out. The last updates we did on the long term gold chart showed that we were watching a large "intermediate" degree wave (C) rally that when complete would finish the "primary" wave [B] that began in December 2015. The decline from the all time high in 2011 counted at the time as a perfect five waves. In late 2014 and early 2015 an "ending diagonal" as wave (5) of [A] competed and started a very expected large thr...