Gold: published research this week is uniformly bullish across every time horizon, with no dissenting view surfacing.
The long-term case, as laid out in recent third-party analysis, rests on unprecedented central bank buying — especially from China and other sovereigns — alongside currency debasement, negative real yields, and eroding trust in sovereign bonds. Researchers also point to a structural shift away from paper gold claims toward physical settlement, with China and Hong Kong building out gold settlement infrastructure. That transition, one camp argues, should drive fairer price discovery and sustained appreciation in what they frame as "chapter two" of a secular bull market.
A shorter-term thread of recent commentary adds that washed-out sentiment, cleaned-out speculative positioning, and a Fed that isn't overtly hawkish set up a tactical rebound. Low valuation multiples in gold-adjacent equities are flagged as an added draw for capital.
On the companion trade, some published views target silver as high as $70 by August while building gold longs alongside it.