Gold has been in a long-term bull market, almost a parabolic one from $2000 post-pandemic. After spiking to a record $3500 in April, it took a break and consolidated for five months. Now that it's clear the Fed is going to aggressively ease and the US is embracing fiscal irresponsibility, it's breaking out again.
I think the fundamentals are even more compelling from here. The global order around trade is breaking down and the images of Chinese Indian and Russian leaders holding hands this week points to big geopolitical shifts to come.
In any case, I've been banging the drum since $2000 and I'm finding it tough to find any reason to change gears now.
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