The GLD has behaved even more poorly then the XAU, perhaps because it is, I think, an ETF that primarily holds gold itself despite the name. Because the low was pretty well at 100, we are presently up only 15% or 1.15x. The very distinct triangle suggests that that is a fourth wave so, if anything, this chart confirms the notion that the initial leg down from the top was a 5-wave sequence for a wave A. We are now halfway in the B. Then C goes down to new lows. $137 is a reasonable target for the B wave in this ETF.
See also our previous blogs on this ETF.
Note that this is the largest goldfund in the World at 34 billion today. By comparison, the supposedly depressed price of AAPL stock still gives it a market cap of 550 billion.