
After a sizable and consistent rally lasting the better part of two years, gold may have finally reached a limit. Achieving an all-time high near $4,400 per ounce in mid-October, gold has since pulled back to roughly $4,000.
Its year-to-date (YTD) performance is still strong at more than 48%—the S&P 500 has returned 16% in the same timeframe—but investors confident the safe haven metal would only continue to rise may be facing the possibility that this is not necessarily a given. Shifting trade policies, the threat of a major market correction, and other factors could still sway the price of gold either direction heading into the new year.