The Move up since October 2023 hasn't necessarily been a very impulsive one for Gold. Each new high has met with severe resistance and momentum has stalled greatly. Compared to bitcoin or SPX, GOLD all time high has been a quiet one. The pattern is shaping up to be a 3 wave diagonal construct. We need some more time to pass before this can be confirmed, but for now, the bear case is getting stronger by the day. In macro sense this may be completing an expanded B wave in the cycle degree. This case is even more visible for silver where it could be completing regular B wave in cycle degree since it hasn't made a new ATH. For Gold, price could make a bit more stride toward 2500 or things could top out right here. Gold bugs, be aware!
