Gold markets continued to show strength this week, as investors once again bought into dips despite minor profit-taking on Tuesday. According to market analyst Christopher Lewis, the overall sentiment remains bullish, driven by a volatile global environment and ongoing central bank accumulation of gold.
Following Monday’s breakout on strong volume, gold pulled back slightly early Tuesday—but signs point to continued upward momentum. “Every dip seems to get snapped up,” Lewis noted, suggesting that the market is consolidating before another push higher.
While the path to the all-time high near $3,500 may not be immediate, Lewis believes it’s increasingly likely. “We’re grinding higher, and I do think we eventually not only test $3,500 but break above it,” he said. A measured technical move from current levels could even suggest a run toward $3,800, a level that once seemed unrealistic—just as $3,000 did not long ago.
With global uncertainty, rising debt levels, and central banks continuing to stockpile gold, the fundamentals continue to support the metal’s rise. Lewis cautions against betting against gold in this environment, saying he has “no interest whatsoever in shorting.”
In summary, gold remains a favorite for investors seeking safety, with upward momentum likely to continue—especially as long as volatility persists in global markets. Buying on dips, according to Lewis, remains the dominant strategy.