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Patrick Karim, technical analyst at Technical Traders Ltd, discusses the current position of gold in its long-term cycle relative to the stock markets.
According to Karim, gold is still in Phase A of its cycle, with significant outperformance possible in the upcoming Phase B. He estimates that gold could reach $20,000 or more before achieving a generational peak.
Karim previously noted that gold and silver remain in an uptrend and consolidation phase, with no clear low-risk entry opportunities available at the time. He also indicated that monthly charts for gold, silver, and miners did not show any big base or confirmed breakout forming in recent analysis. These views provide context for his current assessment of gold's positioning within its long-term cycle.