MacroVoices · Thursday, October 1, 2026
David Rosenberg explained that the fundamental driver for the secular bull market in gold is central banks reallocating reserves away from US dollars and into gold. Despite a recent corrective phase for gold, he stated that this diversification trend has not changed and is the primary positive fundamental for the precious metal.
“The fundamental factor is the key source of demand, which is central bank, reserve reallocation from U.S. dollars. into a, into a gold bullion.”
“And global central banks continue to diversify into gold. That hasn't changed. Even in this period, it's been a rough period for gold for most of this year. That hasn't changed. That's the fundamental positive story.”