The Global Demand
The market indicators are pointing towards a potential bull run in gold. Since 1970, every bull market for gold prices has offered stunning returns. The median return and duration of each bull market over the last 47 years has been 451.4% and 41 months, respectively. Since gold bottomed in November 2015, we're roughly 14 months into the current bull market as of early 2017. That means the price of gold has room to gain 451.4% to $5,246 by the time we get to the first quarter of 2019.
The global demand for gold investment has surged 70% from 2016, a 4 year high on the back of Brexit and U.S. Presidential Elections, with investors’ confidence shaken by the uncertainties following the events.
Gold Price History
Highest price US$1,920.70, Current price < US$1,300
Gold prices have peaked in 2011 at US$1,920.70, and within a short 5 years the prices have dipped due to stock market recovery from the 07-08 global financial crisis. The current market volatile conditions have set in motion, what is potentially a bull run in the impending horizon. Gold is widely recognised as a safe haven in uncertainties and financial market meltdowns.