‘The bull trend will resume’ and ‘you want to scale into a long position’ as gold price nears $4,000 pre-FOMC – Goldman Sachs’ Kim - KITCO
‘The bull trend will resume’ and ‘you want to scale into a long position’ as gold price nears $4,000 pre-FOMC – Goldman Sachs’ Kim - KITCO
Source: KITCO
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DW NOTE
Goldman's Kim says scale into gold longs ahead of the Fed meeting because the bull trend will resume. Gold is down 16.7% from its January high of $5,318 despite the Strait of Hormuz being effectively closed and cumulative Middle East supply losses exceeding 1.3 billion barrels. If a shuttered strait and Fed rates at 3.65% can't hold $5,000, the bull case isn't geopolitics — it's the speed at which the dollar's reserve status is being repriced away from Washington's control.