Richard Russells Kernaussage:
Gold backed off literally at the halfway or 50 percent level of the great 1980 to 2000 bear market decline. The BIG question, the CRUCIAL question, is whether gold can advance above 550 and then hold above 550. If gold can do that, then under my interpretation of the 50 percent principle, gold will be on its way to testing and eventually bettering the old bull market high of 850.
Just as there was no time limit during the gold bear market (it occupied 20 years), I don't see any time limit for the current bull market.
Much depends on world events and the viability of fiat paper money.
:))Grüsse
Edel Man