Gold’s Painful 28% Correction Does Not End the Bull Market

Gold holds near the $4,000 per ounce level, last trading at $3,980.20 as the U.S. dollar index reaches its strongest point in over a year. Markets now price in possible Federal Reserve rate hikes starting in September amid persistent inflation concerns. Paul Williams of Solomon Global observes that gold’s nearly 30% drop from January highs matches earlier bull-market corrections, including a 45% decline in the 1970s and a 30% fall during the 2008 crisis. He stresses that key drivers such as central-bank buying and geopolitical uncertainty remain unchanged. Despite the selloff, gold is still up almost 20% over the past year. Analysts warn prices could test $3,700, yet they maintain the long-term bull market is intact.