Can Gold Get Back Up to $5,000 This Year?

Anyone asking if gold can hit $5,000 this year and then pointing to recent dips doesn't understand the market cycles. Fool.com is missing the real story. These pullbacks are a feature of a bull market, not a bug, and certainly not a sign of weakness. To frame current levels as "falling to levels not seen since January" implies something negative, when January was the launching pad for significant gains this year.

Gold currently sits at 4606.3 an oz. A move to $5,000 from this level is only an 8.5% increase. That's well within normal volatility for a metal in a secular bull market. What they call "falling," stackers recognize as a consolidation phase after an impressive run, building a stronger base for the next leg up. Don't let the short-term noise distract you from the long-term trend.

These dips are buying opportunities. Keep an eye on continued central bank gold purchases and persistent inflation signals. The forces driving gold higher are still firmly in place.