History doesn't repeat but it sure can rhyme. Back in 1971 gold was around $US35 an ounce. By 1975 it had reached $200 an ounce only to pull all the way back to $100, a full 50% retracement. If you had bought in 1971 and didn't see the price till 1976, you would be very happy as you tripled your money. Four short years later, the price of gold had gone up 8.5 times from the 1976 low to $850.
We are experiencing the exact same thing now. We have had a huge price increase, we are now in the retracement, and the bigger rise is yet to come, more than likely by 2030.
We are experiencing the exact same thing now. We have had a huge price increase, we are now in the retracement, and the bigger rise is yet to come, more than likely by 2030.
