Gold's 19% Pullback Is the Gift of the Decade
Gold hit $5,595 in January. It trades at $4,553 today. The consensus calls this a correction. I call it a clearance sale on the only asset class that has consistently outperformed during every geopolitical crisis, currency debasement, and fiscal breakdown of the past century. The bears point to positive real yields and a stable dollar. They're looking at the rearview mirror. The Fed has already cut rates from 4.22% to 3.64% in five months, and the cutting cycle isn't over. Central banks bought over 1,000 tonnes of gold annually for three straight years and are still purchasing at 585 tonnes per quarter. The structural bid hasn't disappeared — it's just pausing for breath. At $4,553, gold is trading below its 50-day moving average of $5,006. Every single time gold has dipped 15%+ below its 50-day MA during a secular bull market, it's recovered within six months. Every time.