"Too fast & furious to ignore" or "Fast & Furious 4"
I couldn't resist and today's post has two titles 😊
Of course, this is all about gold, which is not only at another ATH (all-time-high), but has increased by over 15% over the last 2 months.
Historically, we have had several strong bull markets when gold price increases were fast and furious.
Figure 1 shows historical bull markets, today's bull market in gold is already +31.7% counting from the low on October 5, 2023.
Figure 2 shows all ATHs since 1960. If we close on in the green today, it will be 20th ATH counting from December 1, 2023...
Figure 3 shows all days when the 2-month rate of return exceeded 15%. Currently, this also takes place starting from April 9, 2024.
Figure 4 shows the days when we had ATH and >15% 2-month return at the same time.
Figure 5 is an allusion to the title, could we be now expecting Fast & Furious 4?
All-in-all, today's gold price run is a perfect convergence of fundamental, monetary, technical and other factors...
To be fair, in August 2020 we had a “fast & furious” false signal and the gold price dropped by 17.9% till Sep-2022 - see Figure 6.
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