Last week I was talking to my uncle, he always keeps some gold at home. He said "beta, when gold falls, smart people buy." I think he is right this time also.
Gold has pulled back sharply from its recent highs and everyone is now confused — is this the end of the bull run or just a healthy dip? From what I am tracking, this looks more like a correction, not a reversal.
Central banks, especially China's PBOC, are still buying gold at record pace. This is not a small signal this is a direct bet against the dollar. Real yields are also starting to come down after staying high for long time, and historically that is very bullish for gold.
Yes, dollar is still strong and the Fed is not cutting rates anytime soon. These are real headwinds, I won't ignore them. But the bigger picture still favors gold.
For us crypto people, you don't need to go buy physical gold now. PAXG and XAUT are tokenized gold assets trading 24/7 on-chain. You can hold them, use them in DeFi, and still get that safe-haven exposure. Best of both worlds honestly.
Watch the $2,300 support closely. If it really holds, my next target could be $2,450 easily.
Geopolitical tensions are not going away anytime soon either. Safe haven demand will stay.