Since early 2017, gold has strengthened from lows below $1,080 to around $1,340 today. The underlying factors that have helped gold strengthen since that time remain intact. We argue that gold should continue strengthening in the longer-term thanks to (1) moderate sentiment, (2) continued weakness in the US dollar, and (3) a weak outlook for real interest rates. While recent price action is somewhat concerning, gold remains in a clearly bullish trend. Gold bulls are few and far between Despite the 20%+ rally in gold since 2017, gold bulls are nowhere to be found. This isn’t entirely surprising given fears of ... (full story)