We may be due for a short-term correction or continued consolidation in the price of gold. However, the long-term prospect for gold prices is still favorable due to the macroeconomic backdrop. I believe this gold rally is still in the early innings and now is a suitable entry point for those investors who missed the first leg up. Additionally, gold has two tailwinds that will support higher prices - 1) $15 trillion of negative-yielding debt, 2) Foreign Central Bank demand.
Historic Gold Bull Markets
The chart below speaks for itself. In the past three gold