by Marin Katusa
For the first time since November 9th 2011, front month gold futures traded hands above $1,800 per ounce. It’s now knocking on the door of a major technical resistance level.
[…] Naturally, this has every goldbug and self-proclaimed expert on YouTube shouting from the rooftops.
Before we jump into what is going on in the current gold markets, lets first take a look at past gold bull markets…
Below is a chart which shows the previous major bull markets in gold. You will see that all but 1 of the major gold bull markets resulted in gold appreciating at least 400%. Using January 2016 as the low point for the current gold bull market we are in, gold is up 69% from its lows.