Very interesting goings on here and we have the catalyst in place for massive move in the gold price. Since late 2023 there has been a massive divergence in GLD holdings which has accelerated into January/Feb and continues into March, no doubt fueled by retail investors dumping GLD to buy BTC ETF's
Well this fact need to be considered.
Out of 41 new ATH's in gold over the last 5 decades, 22 of them witnessed the gold price rise >100% with one rising a staggering 347% and another 335%. Keep in mind that the December 4 2023 breakout doesn't count as a breakout to new ATH's because it was orchestrated in thin Asian trading and has since proven to be a 'bear trap'.
It is clear what is going to occur here. As GLD price and holdings continues to diverge, at some point retail investors will begin to flood back into GLD, forcing SPDR to re-balance.
I've been saying for months that gold would break in either February or March and run to USD2550-2600 by May, possibly extended into late July before the first major correction unfolds. In CY2025 gold will begin to move from around USD1800- 2000(the correction lows) to well over USD4000 by the end of CY2026.
