Gold Price Could Triple if 1970s Bull Market Pattern Holds, Says Jeff Clark

Strategist Jeff Clark argues that gold’s current correction tracks the 1976-1980 bull market with a 95% correlation. He notes the metal experienced a sharp crash back then before rebounding strongly, and the present move is matching it almost tick for tick, implying a potential tripling from today’s levels if the pattern holds.

After hitting a record $5,600 in January, gold has fallen below its 200-day moving average to $4,125.50, down more than 21% from the peak and 4.5% year-to-date. Clark stresses the decline is milder than the 2008 or 2020 corrections and does not end the bull market, which historically lasts longer.

The analyst is aggressively buying, expecting the Fed to cut rates amid rising debt burdens and economic weakness rather than hike them. He highlights structural drivers such as deficits, fiat currencies and geopolitical shocks as reasons to stay long gold.