by Tekoa Da Silva, Bull Market Thinking:
As articulated here on Wednesday, gold is now approaching the 1976 bottom in terms of total percentage decline from its most recent top.
Following the FOMC-inspired decline of the last two days, we are now another 6% closer to that bottom:
The 1976 mid-cycle bear market in gold provides us with recent precedent of gold dropping by 48% in the middle of a bull market—only to rally by 900%+ once smart money fully re-positions itself.
Please follow SGT Report on Twitter & help share the message.