Investors remain fixated on stringent monetary policies and a significant decline in the US money supply, causing gold prices to stagnate.
It is inevitable that the US Federal Reserve (Fed), nearing the conclusion of its tightening cycle, will soon inject funds back into the financial markets to prevent an economic downturn and support growth. Consequently, this could mark the culmination of a prolonged bullish phase for gold.
However, if concerns arise among investors regarding excessive money printing by the US government, it could lead to a long-term positive outlook for gold as a safe-haven asset.