• Looking at the long-term chart of gold reveals similarities between the last couple years and the bottoming process around 2000.
• Absolute momentum is strong, however, we want so see relative strength against the stock market.
• 1700-1800 USD in mid-2020 looks quite possible.

• The daily gold chart shows a clear breakout of a bullish flag.
• The fact that the last down move was unable to retest the 200 DMA / lower part of the flag can be considered as quite bullish.

• My cycle model in the gold market (ETF: GLD) was accurate in calling the last two peaks and bottoms.
• A new buy signal is in place.
• The next peak is expected in late March 2020.

• Comparison between the recent gold price (ETF: GLD/ blue line) and similar patterns of the past (red line). All the look-back periods are adjusted to the recent price and volatility. 
• If history is a guide, it is quite bullish for gold over the next couple months.

Summary:

• Overall, a lot of things indicate a promising setup for gold into the first couple months of 2020.
• Silver and gold miners look even more attractive within the precious metal space.
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