Gold has been outperforming SP500 for some time, and looking at the SPX/GOLD ratio chart, there’s still some room left for gold to stay stronger than SP500 before the flow changes. We are tracking the wedge pattern within wave C of an irregular ABC flat correction. Seems like gold can stay in the uptrend till the end of 2025, and then in 2026, watch out for a slowdown within a higher degree correction.

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