Gold Wrap, Silver Lining: June 11, 2024

From forex.com

Given the strong and broad gains gold saw from January through May, you'd be forgiven for assuming it was a one-way bet for bulls this year. The usual calls for $3000 emerged with each new record high, but they've quieted down amidst the recent shakeout in prices. While I suspect gold will eventually reach $3000 , it might not happen as quickly as many hope. Gold has seen a solid rise since the 1998 low, which makes the post-GFC retracement between 2011 and 2015 look like a mere flesh wound. Prices have more than doubled since the 2015 low just above $1000, before consolidating in a 4-year bullish continuation ... (full story)