After one of the strongest runs in years, gold finally hit a wall. Prices slipped 3.1% this week to US$4,111 an ounce, briefly falling just close to the US$4,000 mark for the first time in months. For some investors, this drop felt like the end of the party. For others, it was the signal they’ve been waiting for. So, is this the top, or the setup for the next big move?
In this week’s episode of The Australian Gold Weekly Review, Ved and Brian unpack what’s really behind gold’s sudden pullback. With tensions easing across global markets, the U.S. speculatively dodging another government shutdown, and seasonal buying in Asia slowing after the Indian festive season, the wave of demand that powered gold to record highs is now cooling off. But as the U.S. dollar gains strength and the Japanese yen weakens, questions are rising, has gold lost its shine, or is this just the reset it needed before the next rally? Brian’s got you covered.
Silver also took a beating, tumbling nearly 7% to US$48.56 after touching US$55 earlier in the week. The mood wasn’t much better for Aussie gold stocks either. The ASX All Ordinaries Gold Index dropped close to 2,000 points midweek before clawing back slightly. It’s been one of the biggest shake-ups since August, and investors everywhere are wondering: is this a short-term pullback, or the start of something deeper? Brian shares his thoughts, and trust us, you’ll want to hear them.
If you like our content, and want to learn more about our detailed analysis into gold mining companies, we provide additional content to our members. It is totally free to be our member, just sign up to our service, and we will share it with you through our newsletters.