Gold's Secular Bull Market Just Turned More Convincing

Summary

• Gold is firmly anchored in a robust secular bull market, with incredibly resilient structural and fundamental factors sending the precious metal into even greater heights.
• Gold's upward momentum is reinforced by repeated dip-buying, persistent central bank buying, with no convincing signs of a bear market reversal or bull traps seen yet.
• Structural demand from central banks, particularly China, and asset managers shifting gold to a core allocation, supports sustained price strength.
• The Fed’s dovish outlook provides additional fuel, and continued global diversification away from USD assets further bolster the bullish thesis for gold through 2026.