Gold prices face volatility amid strong US data and FOMO concerns.

Bloomberg Intelligence predicts that FOMO could dominate the gold market as an economic slowdown in the second half of the year triggers a selloff in the stock market and a move towards $3,000 an ounce in gold. Central bank gold buying has been a primary driver keeping the gold price up, and once the stock market begins to see significant losses, nothing will be holding gold back. The gains in the stock market are likely to be short-lived due to the coming deflationary recession, which is good news for gold bulls who want to see gold trading sustainably above $2,000 an ounce.