Can Gold Make a New High in 2026?

I asked if the current consolidation in gold was healthy in a July 2, 2026, Barchart article, where I concluded with the following: If gold can hold above $4,000 or $3,500 per ounce, the consolidation period can be very healthy for the market. I favor a scale-down approach to buying gold, leaving plenty of room to add on further price weakness. Gold could have more downside at the current price level, but an accumulation program that follows the central bank activity could be optimal in the current environment. Nearby COMEX gold futures were trading at $4,135.50 per ounce on July…