The gold bull market began in 1999, when the Bank of England auctioned half its reserves, pushing the price to a low of $252.50 per ounce. I concluded my Q2 Barchart report on precious metals with the following:
Gold’s trend remains higher, and the trend is always a trader or investor’s best friend. Every correction since the 1999 bottom has been a buying opportunity, and I expect that trend to continue. Central banks continue to purchase gold to add to their reserves. Gold has become the second-leading reserve asset, surpassing the Euro currency as the second-leading reserve currency. The bottom line is that gold’s trend remains, for lack of a better word, golden, as the markets head into the second half of 2025.
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