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Something caught my attention overnight that completely changed how I’m thinking about gold right now.
While many traders are panicking over gold’s 27% correction off the January highs, I was watching the spot price hit something significant — the 200-day moving average.
And instead of running for the exits, I’m looking at this as an opportunity to establish long positions. The only reason gold is falling is because so much profit was made that traders are taking money off the table, but I don’t think smart money, big investment banks and countries are selling gold. I think they’re using this as an opportunity to load back up.
Here’s why I think this correction is creating the kind of entry point that makes sense for the next 12 to 24 months.
The Narrative Hasn’t Changed — Just the Price
This 25–30% correction feels a whole lot better than chasing all-time highs, which I’m glad I didn’t do. Patience is paying off because now I’m getting levels that actually make sense from a risk-reward perspective.
I’m positioning for a bounce via six-to-12-month bull call spreads, using this discount as a chance to get in at what I consider a fair price. I’m not trying to be time-sensitive — I’m just using the correction to establish positions that make sense over the long term. I could still see this giant move settling between about $4,100 and maybe $3,600, so I’m not saying the bottom is in.
Where This Could Go From Here
If I can establish a line in the sand around $4,000 and price stays above that level, that’s a good trade. Especially when you consider the all-time highs are at $5,600 with potential to go higher. And if I look out 12 to 24 months, five years, 10 years, I think that gold is going to be higher.
The key technical support I’m watching is former resistance around $4,100, which should now act as support. If we come back and retest the low, that’s fine — I’m looking at this through a 12-24 month lens, not trying to nail the exact bottom.
This isn’t about perfect timing. It’s about getting a fair-price entry after a legitimate discount. While retail traders are panic-selling, I’m thinking about where gold is likely headed over the next several years — and after a correction this size, I’d rather be positioned than sitting on the sidelines.
I’ll see you in the markets.
Chris Pulver
Chris Pulver TradingÂ
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