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Bob Elliott observes a recent surge in gold interest, attributing it to macroeconomic tailwinds. While there are indications of a rising bid for gold, Elliott notes that current market dynamics lack the excesses experienced last October, suggesting the rally is sustainable rather than overdone.
Elliott’s current assessment of gold’s momentum is informed by broader trends he has monitored, including the recent move by central banks from an easing to a tightening cycle—a dynamic explored in his analysis of how these policy shifts reverberate across global asset prices. His perspective also incorporates labor market considerations, such as projected wage growth decline in 2026, underscoring the interplay between macroeconomic forces and investor sentiment.