Is gold on the verge of breaking out?

This could be the year that gold prices hit a record.

A massive move in gold, driven in part by declines in the U.S. dollar DXY, +0.21% and Treasury bonds TMUBMUSD10Y, +0.00% , excessive optimism in the stock market, and rising inflation, may help send prices above $1,900 an ounce this year, surpassing the all-time high from 2011. “Gold has been in a stealth bull-market phase for the past few years with little notice from most investors,” says Peter Spina, chief executive of precious-metals information provider GoldSeek.com. “Gold at $2,000 is a long shot, but not an improbable target by any means.

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