On July 6, in a Barchart article, Is Now a Good Time to Buy the Dip in Precious Metals, I began the case for higher precious metals prices stating, “Every dip in gold since the bull market began in 1999 has been a buying opportunity.” Nearby COMOEX gold futures were 2.01% lower in Q2 but rose 5.65% over the first six months of 2023. Nearby gold futures settled at $1,929.40 on June 30 and were slightly higher on August 9.
Markets reflect the economic and geopolitical landscapes, which favor higher gold prices in August 2023.
