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All markets are driven by the emotion of fear - fear of losing and fear of missing out (greed) - and it is hard to think of a more emotional investment than gold. It has been the 'go-to' refuge from recessions and from inflation since the beginning of modern times. The emotional state of gold traders leaves "footprints" in the pricing history of gold in the form of repetitive patterns. In an article two weeks ago (here), we argued that the recent rally in gold was/is not the beginning of a new bull