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Anna Williams

Gold

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Hi Anna, thanks for your question. Yes, there is a very good chance that we shall see Gold trading at $2,000 before the end of this year.

I believe that this will happen once the second leg of this bear market gets into full swing, and we see major declines in stocks similar to what we saw in late February and up to the bottom on 23rd March.

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Hello Anna, and thanks for coming here to hear our assessment. Technically, gold prices had a robust month in April by gaining 7%, also hitting the highest price recorded since November 2012. 

Please note that the price action is creating a bull pennant chart pattern - a continuation pattern that helps the uptrend to extend higher. 

For this pattern to be activated, the gold prices need a move above $1,740. Ultimately, a push to $1,900 should complete the formation. Hence, it is very possible that gold prices can extend the current rally to, or near, the $2,000 mark.  

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