I’ve reproduced a chart that goes back to 2019 in order to show clearly that there has been little drama in more than three years. Comex futures are trading about where they were in the summer of 2020, meaning there has been no net gain since then. The chart is unmistakably bullish and projects to as high as 2326.30 (basis the August contract), but that doesn’t mean gold couldn’t fall by $200 or more before it heads into, if not the wild blue yonder, then perhaps toward a towering cumulus cloud on the horizon.  A pullback to x=1864.10 in the meantime would trigger a ‘mechanical’ buy with excellent odds for success, but we’ll wait until it gets there before we discuss entry tactics.