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Gold – Has The Summer Rally Already Begun?

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ValueWalk

After the sharp drop in the first half of June and a tenacious sideways bottoming out, the gold price recovered to US$1,834 and thus reached its 200-day moving average (US$ 1,827) again. Gold – Has the summer rally already begun? Q2 2021 hedge fund letters, conferences and more ReviewSince gold prices reached a new all-time high at US$2,075 on August 7th, 2020, the entire precious metal sector has been in a multi-month correction. After eight months within this correction, gold fell back to an important double low at around US$1,676 in mid and late March. From there, prices recovered strongly …

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