On March 16, I highlighted gold’s correction to another in a long series of higher lows. I wrote, “From a long-term perspective, the upside target is at the March 2020 $2,072 high. Gold has been making higher lows and higher highs since 1999, and the trend looks likely to continue as the economic and geopolitical landscapes support a bull market for the world’s oldest currency.”
COMEX April gold futures were at the $1,926.90 level on March 16 after trading up to $1,942.50 on February 2. Since then, the precious metal probed above $2,000 per ounce for the first time in 2023.
