How much Longer can Bullish Sentiment Drive the Gold Price Higher?
Gold reached new all-time highs and is expected to continue moving higher due to lower real interest rates and increased investment demand, says Jordan Roy-Byrne. The fundamentals driving this price increase include anticipation of lower real interest rates and the pickup in investment demand. The sentiment for gold is becoming bullish, which is a good sign for a new bull market. The gold miners, represented by ETFs like GDX and GDXJ, are also showing signs of a breakout and potential for further gains. It is important to focus on horizontal lines rather than trend lines when analyzing technical patterns.
