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Gold prices’ timeless footsteps glittering in the chart (Monthly Time Scale)
Gold’s journey is a legendary one to study — not just because this precious metal’s price movements are glittering now, but because since December 2024, Gold has successfully broken its historical ATH resistance range formed in 2020 ($2,078).
Since then, Gold has been on an unstoppable Bull run — a Price Discovery journey that’s taken it 87% higher in just 8 months, rising from $2,078 to $3,800.
Gold's price appreciation Tradingview Chart>>
We will uncover the deeper forces that propelled Gold to these new highs in another article.
A Historic Record: Gold’s Price Journey and the Cup & Handle Constellation ✨
Gold's CUP and Handle pattern Tradingview Chart>>
Gold’s price movement has etched a historic record — forming a beautiful Cup & Handle bullish formation in the monthly chart.
This chart is a delight to behold — as exciting as spotting a constellation in the night sky (: Ha!
The Cup Pattern Formation
• The Cup begins with Gold’s ATH at $884 in 1980, a time when many of us (like me) were not even born.
• It took nearly 30 years for Gold to retouch this level, finally breaking through in 2007 with a new ATH of $1,040.
• This neatly shaped the Cup formation.
🌟 The Handle Formation
• Gold’s price oscillated, testing resistance for a few years.
• Then, the Glittery metal summoned Bull power — breaking out in 2010.
• Momentum carried it to a new ATH of $1,908 in 2011.
Gold’s Bearish Phase
• After 2011, Gold entered a bearish cycle, tunneling down to find support around $1,100.
• It then spent almost a decade in accumulation before climbing again, reaching $2,078 in 2020.
• In December 2024, Gold finally shattered this range and is now flying with ease, on its way to wherever its Bull pace next finds resistance.
👉 This is Gold’s Cup & Handle breakout journey — a chart glittering with timeless footsteps, shaped by the macro-economic circumstances of each era.
With USD Losing Its Flavor → The Pitch Is Set for Gold to Score ⚡
AI generated image by Perplexity AI...
Macro-economic turbulence has once again given Gold glittering prominence.
• Governments worldwide are buying Gold to strengthen their foreign reserves.
• Even El Salvador’s President recently added Gold to the national treasury.
• Investors continue to see Gold as the most trusted hedge against the US dollar: a mature, time-tested asset class with relatively lower volatility and a long price history.
Meanwhile, the US economy faces slowing corporate earnings, inflation above target, and weaker job growth projections. When the USD is no longer seen as the supreme store of wealth, smart investors turn to Gold’s shine.
The US Fed’s rate cut on September 17th further adds fuel to Gold’s glittering price appreciation. As USD supply increases and the dollar weakens, wealth holders look to safeguard their value by moving into gold
Golden Marks: Treasures of Life’s Memories 💛
Gold’s value is not just in its price — it’s in the memories it marks.
Looking at this 40+ year Cup & Handle chart, I imagine the countless human stories that unfolded in parallel:
• A lover’s proposal — “Will you marry me?” — with a golden ring that left the lady speechless, as often shown in films and ads.
• In Indian culture, engagements marked with ring exchanges by both families.
• At weddings, the groom ties the sacred turmeric thread (mangalsutra) to the bride, later replaced by a golden chain.
• Newborns adorned with tiny gold necklaces.
• A little girl’s ears pierced at one year with her first golden earrings.
Gold becomes a fashion, a symbol, a treasure. Sometimes those ornaments carry bittersweet associations — a broken engagement, a marriage that didn’t last. Yet, whether tied to joy or sorrow, they remain valuable memories.
And beyond memory, they gained in worth through decades of price appreciation.
Life Lessons from Gold’s Chart 🌟
What inspires me most is how much Gold’s chart mirrors our own lives.
• Just as Gold took 30 years (1980–2010) to reclaim its $884 peak, we too may have long stretches where results don’t show.
• Just as Gold faced dips and accumulation phases, we too face setbacks.
But with persistence — charting our own footsteps steadily — we too can break through resistance and find value.
💡 Keep at it. Even if success doesn’t show up soon, it will eventually reflect — like Gold’s timeless chart — as your achievement, shining in the end.