Gold: published research this week is uniformly bullish — the debate is about horizon, not direction.
Researchers converge on a familiar set of drivers. One camp of analysts emphasizes portfolio diversification demand, sustained central bank buying, and the breakdown of the old stock-bond hedge relationship as structural tailwinds. A separate strategic view anchors the bull case in chronic fiscal deficits and financial repression — governments quietly keeping real rates low to erode debt burdens.
A more aggressive thread of recent research puts a long-term target as high as $9,000, built on the argument that the dollar has been debasing at roughly 8–9% a year since the early 1970s, with eventual yield curve control or outright debt monetization as the endgame.
On the tactical side, some recently published views flag improving short-term momentum: spot gold has reclaimed its 50-day moving average, and a clean break above roughly $2,370 is described as the trigger for a multi-week rally — though longer-term momentum signals have softened, framing this as a countertrend move inside a still-intact secular bull.