It’s been a tough few weeks for the gold bulls.
It was only two months ago they were screaming from the roof calling for a gold ‘break-out’ into all new highs.
That was on the back of a strong recovery from 2022’s lows. It was also thanks to several major economies across Asia buying up big on gold bullion to boost their reserves.
That’s been the catch-cry for the gold bulls in 2023 — nations in the east buying gold as a possible move away from the U.S. dollar in international trade. Yet despite the buying spree, gold futures continue to weaken.