Are You Bullish or Bearish on Gold This Quarter?

Gold has had an extraordinary run in 2024–2025, making multiple all-time highs and defying many analysts' expectations. The question now is: what's the path forward for the next 3 months? **Bull case:** - Central bank accumulation continues - Global rate cuts reduce opportunity cost of holding gold - Inflation remains sticky → real yields stay low or negative - Geopolitical premium stays elevated **Bear case:** - USD strengthens on delayed Fed easing - Risk appetite improves → rotation out of gold into equities - Technical breakdown from ATH resistance zone - Retail overbought sentiment (contrarian indicator) Are you holding long gold positions right now, adding on dips, or do you think a bigger correction is overdue before the next leg higher?