(Kitco News) – The gold market may be caught in a holding pattern through the summer, but its ability to maintain critical support at elevated levels suggests that it’s only a matter of time before it retests April’s all-time highs, according to one market strategist.
In a recent interview with Kitco News, Chantelle Schieven, Managing Director at Capitalight Research, said it could be difficult for gold to reach new highs as the U.S. economy and labor market remain fairly resilient. She also noted that inflation pressures, while elevated, remain relatively contained—for now.
Schieven explained that U.S. consumers and the broader economy have been sustained by surplus inventories built up earlier in the year as companies braced for President Donald Trump’s ongoing global trade war. However, she added that these inventories are quickly being depleted, meaning consumers will soon start to feel the effects of higher tariffs.
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