Here's what could trigger a lasting rally in gold prices

7.25.22 - Economy: Both Consumers and Experts Baffled

Gold last traded at $1,719 an ounce. Silver at $18.44 an ounce.

NEWS SUMMARY: Precious metal prices drifted lower Monday on a flat dollar ahead of Fedspeak. U.S. stocks traded mixed as investors awaited earnings and economic reports.

Marketwatch--"Gold has failed to show its value as a haven investment so far this year....Even so, it may be safe to bet that the metal will prove once again just how precious it is to investors - under the right conditions.

Even so, it may be safe to bet that the metal will prove once again just how precious it is to investors-under the right conditions.

'Gold has spent the past couple of years stuck in a trading range, with the upper $1,600s on the lower end and stiff resistance just under and above $2,000 - and that is likely the range the market will continue to see as the year concludes', says Peter Spina, president of GoldSeek.com.

However, an indication that the U.S. Federal Reserve is nearing the end of its rate hikes would trigger a big response in gold prices, he says, potentially lifting prices toward the top end of their trading range or higher.

Red-hot U.S. inflation numbers have produced fears of more aggressive interest rates, raising the risk of a recession. The June U.S. inflation reading showed a rise to a nearly 41-year high of 9.1%, backing expectations for more interest-rate hikes by the Fed."