Precious Metals 3
Gold Breaks $4,000: Cyclical Correction or Structural Crack?
Spot gold broke $4,000 on June 24, dropping to $3,959 intraday — nearly 29% off January's $5,594 all-time high. The three forces behind the selloff are all cyclical; the structural central bank bid — 17 consecutive months, ~850 tonnes per year — hasn't moved.