Gold Price’s Bottoming Process

From goldpriceforecast.com

Yes, it could be a process and not a sharp U-turn. And we’re likely seeing the start thereof. Gold price (precisely: gold futures) moved lower yesterday, and it even moved temporarily below $2,000. Gold ended the day a few dollars above the $2k mark, but it was still the lowest close of 2024 so far. Now, the question is – did gold’s move back up mark the bottom for this short-term decline? In short, this could be the case, but it seems more likely that we’ll see another short-term move higher before gold rallies. Why? Because the really strong (from the short-term point of view) support was not yet reached. ... (full story)