The gold experienced a significant historic breakout in June. At present, it has broken April 2013 high and made a fresh 2019 high. Although it failed to sustain above $1,450, even a breach for gold is considered bullish. From here on we expect gold to consolidate till $1,405 before resuming its uptrend. Many fundamentals point to strong gold in the coming months. The first positive fundamental factor would be the US rate cutting cycle. The second positive factor is global bonds bearing negative yields. gold has thrived during the era of rate cuts and easy liquidity because central banks use this tool to either avoid recession or take their economy out of recession.
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