Here is a very interesting chart of gold on the Quarterly time frame:
Gold spiked higher in 1980 to make a multi year high, it wasn't until Jan 2008 that the price reached this level, when it did break out it soon came right back into the range and took 18 months to finally break out past the 1980 high.
Gold then went on to make a multi year high in Sep 2011 and it wasn't until July 2020 that the price went higher again, and guess what? it is doing exactly what it did in 2008, (poke higher then re trace)....
As you can see Gold is in a multi decade bull market and the price action since the August highs is quite healthy and if history is any guide we should re test the August highs over the next few months... in 2008 in took 11 months for Gold to re test the highs..
