I think sentiment quality will change so rapidly, that gold will reach $9200 before the end of the year.
August 2011 20MA volume was 2.2 million, and gold was $1900.
The ratio of those is 1160.
April 2020 volume was 10.6 million.
Divide 10.6 million by 1160 = $9206
2011 sentiment level, as expressed as "1160", applied to today's volumes will push gold to $9200. With the ease of information from the internet and Robinhood-like retail traders, and algos following trends, this will happen very rapidly. Much faster than the last bull run.
August 2011 20MA volume was 2.2 million, and gold was $1900.
The ratio of those is 1160.
April 2020 volume was 10.6 million.
Divide 10.6 million by 1160 = $9206
2011 sentiment level, as expressed as "1160", applied to today's volumes will push gold to $9200. With the ease of information from the internet and Robinhood-like retail traders, and algos following trends, this will happen very rapidly. Much faster than the last bull run.