is trading above 5,000 and silver is holding near 80, at least for now. Miners and juniors were ripping until just last week.
Yet this bull market is still in its early innings.
The following chart lay out the evidence. First, consider Gold’s 2024 cup and handle breakout from a 13-year-long base in the context of history.
This is one of Gold’s three major breakouts. First was the Greatest Breakout of All Time in 1972. Then came a breakout from a multi‑decade base in 2005 (not to new all‑time highs), and now the current breakout. The 1972 move ran for 8 years into a secular peak. The 2005 breakout ran for over 6 years before topping. Today’s breakout is not even 2 years old yet. Gold’s performance against the stock market can help us spot cyclical and secular peaks.
Gold just broke-out from a 12-year-long base against the Stock Market.
Accelerated moves to the upside in this ratio lead to both cyclical (C) and secular peaks (S) in Gold and precious metals. The move in Gold against the Stock Market is only starting.With Gold also breaking out from a 12-year base vs. the Stock Market, that rotation is now accelerating — away from Stocks (especially Tech, as detailed in previous research) and toward Gold & Precious Metals.
Gold’s cyclical bull market is likely only halfway done — and still has plenty of upside, given key metrics remain far below their 1974 peak levels.
