Yes, I pulled data a couple of years ago and told my friends at least ten years.

#现货黄金创历史新高 Once gold is trapped, it takes at least 10 years to recover. This is because gold is a long-cycle asset. It was once speculated at the end of the 1970s when the dollar and gold decoupled, coupled with epic inflation, and after peaking, it was trapped for 28 years.

Then after the 2008 financial crisis, the Federal Reserve engaged in epic monetary easing, undergoing three rounds of quantitative easing, and after peaking, it was trapped for 10 years.

This time, it is unclear why there has been such a surge; various indicators do not support it, and it is purely driven by capital. Merely an expectation of interest rate cuts is not sufficient to produce such an effect. If it peaks this time, the duration of being trapped may be even longer.