World Gold Council sees recovery signals as gold nears bottom
In short
The World Gold Council said gold may be getting close to a bottom.
Its analysis of past bear markets suggests recovery could improve, but it says speculative positions still need to be fully washed out. That matters for gold traders because it points to a possible turn in prices.
What the reporting says
The World Gold Council’s analysis of historical bear markets suggests gold prices may be nearing a bottom, according to a BusinessLine Markets summary. The council also said a complete washout in speculative positions remains necessary for a full recovery signal. The source points to improving prospects for gold but gives no price level, date, or market move.
Why it matters
The World Gold Council said historical bear-market patterns point to improving prospects for gold, while also saying a full washout in speculative positions is still needed. That leaves the outlook cautiously better for gold prices, but not fully confirmed.