The recent price movements in the asset markets may have provided a strong opportunity for those who want to buy gold, as the metal has enjoyed some robust performance in the last several sessions.
The metal had a strong day on July 16, as spot gold gained 0.7 percent to reach $1,290.31 an ounce by 14:01 GMT, according to Reuters. August gold was $5.70 per ounce higher at $1289.20.
Gold has risen during all but one of the last seven sessions, receiving support from speculation surrounding the future of quantitative easing and the lackluster strength of the U.S. dollar, Bloomberg reports. This winning streak has happened after the metal has plunged in recent months, falling 23 percent in 2013 through July 15.
The metal fell into a bear market in April, and as a result of this drop, several market experts came out and declared that they no longer felt the same way about the value of the precious metal as a safe haven asset.
While these developments may not seem positive for the commodity, the recent strong performance may mean that prices for the metal have bottomed out and there is significant opportunity for those who want to buy gold.