Is the pullback in Gold a perfect buying opportunity? [Video]

After an explosive start to March, that saw Gold prices hit multiple all-time record highs this month – prices have pulled back as trader’s bank windfall profits – ready to capitalize on the precious metals next big move.

According to GSC Commodity Intelligence – “Gold's record-breaking rally has been nothing short of impressive. Never before in history have we seen the precious metal score multiple all-time record highs in such a short space of time”.

This month, we have seen Gold prices breach $2,159 an ounce, $2,180 an ounce and the $2,222 an ounce mark – notching up three back-to-back all-time record highs within a two-week period.

Just so you read that correctly, that's three back-to-back all-time record highs within a two-week period.

And this could just the start of an even bigger cyclical move higher.

Mounting evidence shows that we are now in a “new era” for the precious metal or as analysts at GSC Commodity Intelligence are calling it – “the beginning of a new historic Supercycle for Gold.

Despite the recent pull back, the fundamental backdrop still remains ultra-bullish for Gold due an ever-growing number of macro and geopolitical factors that are currently unfolding.

These include; persistent geopolitical tensions, strong central bank purchases, growing demand from China as a hedge against economic instability in the world’s second-largest economy, along with November’s high-stakes U.S presidential election.

And last but definitely not least – the global pivot towards interest rate cuts with the European Central Bank, Bank of England and Federal Reserve inching closer to their first rate cuts in June.

So far this year, along list of the world’s most powerful Wall Street banks from Goldman Sachs, JP Morgan to Citi have continued to reiterate their view that Gold remains their No. 1 pick in Commodities markets as central banks in the U.S and Europe move to reduce interest rates.

Historically, during each and every one of the past five easing cycles, Gold prices have always delivered outsized gains. Interestingly, Gold’s gains have “supersized” when a soft landing has been achieved, which is strongly anticipated to be the case once again.

In a note to clients, analysts at GSC Commodity Intelligence continued to double down on the view that “any substantial pullbacks should be viewed as buying opportunities because Gold prices rarely stay low for long”.

Whichever way you look at it, one thing is clear. The stars appear to be aligning for Gold and it won't take much for prices to reach $3,000 an ounce, if not exceed that mark in this current macroeconomic environment – a lot sooner than anyone expects.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions: