XAUUSDThe long-term price history of Gold Spot / U.S. Dollar (XAU/USD) on a weekly timeframe, spanning from the late 2004s to a projected ~2026. It uses a logarithmic scale with prominent parallel channel trendlines (ascending black lines) forming a multi-decade bull channel.
Key Annotations and Structure
Shaded regions —1) Greenish areas highlight major bull phases (e.g., early 2004s rise, 2012 bull market (ending at the previous all-time high in 7 Years)
2)2012-2019 next 7years approx sideways/consolidation/bear phase (multi-year range).parabolic surge to ~$1,920, and the ongoing post-2020 breakout).
3) indicates the current bull leg (Phase III), starting ~2019-2026, with explosive upside in 2024-2025.
Cycle —
Small Cycle: "95 bars, 665d" (shorter ).
Big Cycle: "382 bars, 2,674d" (much longer).
Projections resistance levels (e.g., previous highs at ~$1,920, extensions to $5,070+, $6,218+, up to $11,176+).
Projections — Upward-sloping channel extensions suggest potential targets in the $6,000-$11,000+ range by late 2020s/early 2030s if the channel holds.
This chart depicts gold in a classic multi-decade supercycle or secular bull market, with lengthening cycles (similar to commodity supercycle theories or Elliott Wave interpretations). Phase I was the initial breakout from the 1990s lows, Phase II the prolonged correction/sideways grind, and Phase III the ongoing parabolic advance driven by modern factors.
This setup matches the chart's bullish thesis: gold remains in a structural uptrend within the long-term channel, with no clear breakdown. Pullbacks (if any) would likely find support at lower channel lines or prior highs (~$3,840-$4,000). Many analysts view the rally as intact, with potential for $5,000+ in 2026 if momentum persists.
