While in secular bull markets the very long-term trend is up, in secular bear markets the very long-term trend (17 years typically) is sideways to down.
The longer-term secular bull trend for gold remains bullish, and there remains plenty of fodder on the horizon to help trigger another explosive up move in the yellow metal in the days and weeks ahead.
We expect that print advertising revenues for the company will continue to decline until the end of our forecast period primarily because of a secular downward trend in US national print ad spending.