Gold is near fair value, setting the stage for the next leg higher

Gold’s sharp correction earlier this year has pulled prices back toward fair value, which a strategist says is consistent with a secular bull market rather than an outright end to the trend. The note frames recent weakness as normalization/mean reversion rather than a new bearish regime, implying limited near-term catalyst impact.

Analysis

Gold’s sharp correction earlier this year has pulled prices back toward fair value, which a strategist says is consistent with a secular bull market rather than an outright end to the trend. The note frames recent weakness as normalization/mean reversion rather than a new bearish regime, implying limited near-term catalyst impact.