Today Gold reached a new all time high of $3,000 per ounce. Articles abound attributing tariff uncertainty, a Fort Knox gold audit or the deal to avert government shutdown as the catalysts of the price action. In a February article I guessed, predicted that gold would selloff unless it makes a strong move above $3,000, and I hold to that.
While I remain a long term gold bull, the climb has always been slow. I would be more surprised than not if gold does not drop below $3,000 before consolidating above the psychologically important $3,000 level.
Gold is a holding and hedge whose price appreciation success is judged over decades not years.
