Anthony Kim, head of global metals trading at Goldman Sachs, said that the relatively poor performance of the gold market since February is not the end of the bull market; it is just a suspension. Gold prices are expected to reach a new record high in the medium term. On a recent podcast, when asked if the all-time high of $5,589.38 per ounce in late January was at the top of the current cycle, Kim replied, “In our opinion, this is not the end of the bull market. It's just a longer period of suspension.” Kim said he will be paying close attention to the August CPI data, which will be the last meaningful indicator of inflation before the Federal Reserve's September interest rate decision is announced. “If before the Federal Reserve Open Market Committee meeting takes advantage of the volatility brought about by the data, there is an opportunity to gradually establish long positions when it is close to $4,000, then you should seize this opportunity.” he added.

Anthony Kim, head of global metals trading at Goldman Sachs, said that the relatively poor performance of the gold market since February is not the end of the bull market; it is just a suspension. Gold prices are expected to reach a new record high in the medium term. On a recent podcast, when asked if the all-time high of $5,589.38 per ounce in late January was at the top of the current cycle, Kim replied, “In our opinion, this is not the end of the bull market. It's just a longer period of suspension.” Kim said he will be paying close attention to the August CPI data, which will be the last meaningful indicator of inflation before the Federal Reserve's September interest rate decision is announced. “If before the Federal Reserve Open Market Committee meeting takes advantage of the volatility brought about by the data, there is an opportunity to gradually establish long positions when it is close to $4,000, then you should seize this opportunity.” he added.