As of the end of May 2012, gold suffered the indignity of its first “bearish” year after its long-term bull market began in 2001. Gold made almost no net progress in the past year, and although the gold price is still well above its long-term uptrend, on an intermediate-term basis it’s hovering only slightly above its year-ago level. There are reasons for believing that in the coming weeks, however, gold’s intermediate-term fortunes will change for the better.