Should gold investors be disappointed that the precious metal has failed to kick on from its January record high above $5,500 an ounce, or should they be relieved the pullback hasn't been more severe? The price history over the past two decades suggests that strong rallies, such as the one from September 2022 to January 2026 when gold gained 245 per cent, are followed by substantial declines, even if the bulk of the gains are consolidated.
In the rally from a low of $697.45 an ounce in October 2008 to a then-record-high of $1,884.40 in September 2011 gold gained 170 per cent. It then declined by 37 per cent to a low of $1,191.35 by August 2018, Reuters reported.
