Why Should You Own Gold Now?
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Why Should You Own Gold Now?

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Azeez Mustapha

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The 1971–1980 bull run and the 1999–2011 bull run are two of the greatest bull runs in gold history. In the bull market from 1971 to 1980, gold gained more than 2000%, while from 1999 to 2011, it gained over 800%. It is important to remember that there have also been two significant bear markets in the history of gold. Between 2011 and 2015, the second bear market occurred after the first, which lasted from 1981 to 1998. Despite the bear market’s effects, gold has returned almost 5000% since 1971.

Currently, the third notable bull run is ongoing. The price of gold bottomed out at $1050 at the end of this last bear market in 2015. Since the beginning of the new bullish phase or bull run, gold has only made 200% returns, which is nothing compared to the previous bull runs’ returns. This would imply that there is still a lot of room for gold to rise dramatically in the coming years or even months.

According to analytical predictions, the third bull run for gold is projected to make a huge wave that might greatly outpace previous gains. A wise decision would be to allocate no less than 10% of your investment portfolio to physical gold (essentially in the form of bars and coins). Then you can sit back and relax.
Why Should You Own Gold Now?Since the price returned to the order block in 2020, XAUUSD had been in an uptrend until the failure swings in the first quarter of 2022. However, a change of character to the upside has occurred again as XAUUSD broke the previous high at 1802.50.

According to the Relative Strength Index (RSI), the last time the market was overbought was in the first quarter of the year 2022. Price is currently heading into an overbought region, which might cause a retracement into the bullish order block at the 1802.50 demand zone.

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NoteLearn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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