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- The thing that doesn’t point to any specific price or time target, but that remains to be an important bearish factor is the way gold reacted to very positive fundamental news this year and in the previous years. The point is that it didn’t. Sure, there were some short-term rallies, a few of them even got investors excited, but none of them stood the test of time. No single fundamental news managed to trigger gold’s rally above the $1,350 -$1,450 barrier. We had Russia taking over Crimea, we had trade wars, we had nuclear threats regarding North Korea and multiple other threats. Gold should have rallied on just one of them, not to mention all of them taking place over the years. It didn’t, which shows that this market is not ready to rally just yet – it needs to really bottom first. This is connected with one of the questions that we are often asked – “What needs to happen for gold to decline?” The answer is that absolutely nothing needs to happen and you can find the detailed explanation in our April 3, 2018 analysis.FYI