$12000 Gold is Coming - But First a 25% Correction

Chris Vermeulen is calling for a major long-term gold bull case but warns the rally may be in a euphoric blow-off phase first, with a possible near-term correction of roughly 25% before a higher-probability re-entry. He frames the setup as either a sharp drawdown that resets sentiment or a final upside surge before the correction, with his longer-term view still pointing to a much higher gold target around $12,000/oz.