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This anticipation for a pullback makes Friday’s price action exciting; analysts have noted that investors who missed the March rally will be anxious to buy on dips. The problem many investors face is trying to determine where their entry point will be. Gold is trading in record territory, so there are many support levels to watch.
This resilient strength comes as inflation remains stubbornly high, which could force the Federal Reserve to maintain its aggressive monetary policy longer than expected. Hooper said that gold remains attractive as a hedge against fiscal excess as debt explodes higher worldwide. She added that it's only a matter of time before gold prices increase. : “Any well-diversified portfolio should contain gold, and, at present, we’d recommend an aggressive overweight.
Finally, let's not forget that many generalist investors have shunned gold, but with the growing uncertainty surging through financial markets, it could only be a matter of time before they once again embrace yellow metal as a safe-haven asset.
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