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Although the environment could hardly be better, the precious metal remains in a trading range of more than ten years. However, a look at the underlying dynamics in the gold market points to an imminent breakout to the upside.
It may frustrate many gold investors. Despite war, inflation, fears of recession and the regional bank crisis in the USA, the price of the precious metal is not really moving. In dollars, the ounce is currently more than $100 below the all-time high of $2075.47 reached in August 2020 and only slightly above the level of 2011. The price of gold has therefore been more or less sideways for more than ten years with high fluctuations.