A $4,000 Floor for Gold? Not If Volatility, History Are Guides
Markets are supposed to bounce back from good support, and $4,000 an ounce for gold is the first major round-number retracement target from January's peak near $5,586. Will $4,000 mark a bottom? My analysis leans toward no. We see the potential for an enduring underperformance period on the back of the parabolic rally.