On March 15, 2020, it was noted below that Commercial Traders pushed gold quickly to the downside on March 12-13, 2020 to reach a closing price of $1529.75. Gold stayed within in a nominal range of 1460 to 1560 for six trading days before moving up quickly in the futures market to a level of 1699.15 at 7:53 p.m. on March 24, 2020. This move is in alignment with a review of price structures covering the last twelve months that indicate a very large foundation is being constructed for gold. This structural work is required to take the price of gold to a level five times higher than what is currently listed on the exchanges. A preliminary timeline estimate for this project is three to four years. In the interim, you will see unusually high volatility with events such as the latest rush to buy when prices are decoupling between paper and physical markets.
Intermarket structural analysis research