I agree, everything you said corresponds to my posted sentiment the past weeks.
Everything will have its time and place and so I am sure Gold will see brighter days at some point ahead.
I think that will come when we enter the next phase of pessimism after BTC banks alongside equities and people resort back to the real safe haven asset.
When I stuck too long with my bearish views even after the markets turned around in April continuing with my hold on BBOZ and BBUS was a big lesson...I gave gold enough time to shine after that major Sept correction but every week thereafter proved to be a detractor to my portfolio. Seeing fund flows into BTC at the expense of Gold and its inability to correlate inversely with equities were last straws that caused me to abandon the gold trade until we see a change in sentiment.
The vaccine narrative generated positivism and few want to be associated with gold under increased positivism. And the stimulus narrative has not benefited Gold but only BTC, not yet anyway.
Lesson learnt, despite having a conviction, don't get too fixated. Nothing goes in a straight line down or straight line up. But if the big hiccup or correction lands in equity land , more likely Gold will be punished severely as well but then that would be the best opportunity to get back in , because thereafter Gold Rally 2.0 may be on.
