Finally A Bottom In Gold?

Gold last traded at $1,731 an ounce. Silver at $24.97 an ounce.

NEWS SUMMARY: Precious metal prices rose Friday on bargain-hunting and a weaker dollar. U.S. stocks rose led by bank shares and economic reopening plays as investors cheered government stats showing 'subdued' inflation.

Seeking Alpha-"Gold continues to be in a strong multi-year uptrend, and I anticipate large gains in value in the decade ahead as governments around the world continue to stimulate their respective economies with both fiscal and monetary stimulus....

Finally, it appears that gold could be ready to end its multi-month decline....I currently expect gold to trade sideways to up from here before it overtakes the $1,800 level in late Spring or early summer.

Beyond the technical support, we also see signs of a bottom in our internal Options Sentiment indicator. Current values under 5% suggest that the options market participants are positioned for higher prices in the days and weeks ahead. Options and futures expiration often becomes a time to mark price reversals and pivots in the gold price.

Negative real interest rates can be a catalyst for gold ownership, and real interest rates are correlated to the price of gold over time. At the moment real interest rates on the 5-year treasury TIP are negative 1.65%. Gold, which earns 0% real interest rates if held in bullion form, has a superior expected inflation-adjusted return over 5-year TIPs....

I currently anticipate a battle to overtake $1,800, and this may take 2-3 months to chew through various resistance levels."