Gold’s Pullback Analyzed
Correction, Consolidation, or Something Different?
“Recall, the Ukraine war started and Gold caught a nice bid in February of 2022 only to run into Fed tightening in April that obliterated paper bids for 5 months. Right now the market is predicting that the Fed will tighten just as they did in 2022. That’s why Gold is giving back gains.”
Correction, Consolidation, or Something Different?
Should gold investors be disappointed that the metal has failed to extend beyond its January record high above $5,500 per ounce? Or should they take comfort in the fact that, despite a meaningful retracement, the decline has so far been relatively contained by historical standards?
