Gold has been strong recently on the heels of Coronavirus fears, Federal Reserve stimulus packages, and continued geopolitical tensions, which are now being exacerbated by the George Floyd riots in the United States.

Gold is up by $57 for the month of May to close at $1,731 in the spot market as of Friday afternoon. The metal is higher by $155 for the quarter thus far and $228 for the year 2020, which is not yet half over.

That said, in the markets as in life, nothing moves in a straight line forever. We have reason to believe that following some further gains during the month of June, gold is due for a multi-hundred dollar pullback that could coincide with the next wave of Coronavirus-related debt defaults.

Let us study both the long-term and short-term price action for gold to arrive at the highest-probability trajectory for the remainder of 2020.

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