Where Is Gold Going?

Two week ago I first called for patience regarding Gold’s expected Investor Cycle (Investor Cycles run 24 weeks) decline. Since then, Gold has continued to chop sideways in a largely lifeless and apathetic manner. The few price spikes we’ve seen have typically come during thinly traded markets, with little follow-through and prices that close near where they opened.

The current price action is why the Bollinger Bands have constricted so tightly. The trading range has narrowed with each passing day, and volatility is now at an extreme low. The lack of volatility is reflected in the 2nd tightest set of Bollinger Bands since the start of the bull market 14 years ago. Regular readers will know that I place significant predictive value on instances where tight Bollinger Bands occur near expected Cycle pivots.
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