I see neither a cup nor handle there.
I think buying gold as a hedge is now dumb (not that you're dumb, but the idea of gold is)
Gold is no longer a currency worthy of trade.
In a disaster, what is really more valuable....a chunk of gold or a cup of water?
And buying a gold stock or ETF or whatever, isn't really buying gold! It's not like you can show someone your investment portfolio and say...."See this here gold!"
Many years ago, I had a buddy who loaded up on silver quarters for safety. His thinking was, in a worst case scenario, at least he could buy himself a Coke.
Funny thing, this guy was very conservative. Would always take months to evaluate an investment. Then invariably, choose the wrong one. Don't know if he still has silver, but if so, it has been awful.
Also bought houses as an investment......which his soon to be ex-wife took from him in the settlement.
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