Gold Won’t Shoot Up Like A Rocket, But That’s A Good Thing - John Doody

Gold prices have not shot up dramatically on heightened geopolitical tensions instead, they’ve been steadily rising and to longtime investor John Doody, this is a good sign. ‘It’s not going up like a rocket, which is good. I think a steady progression higher is exactly what the metal needs,’ he told Kitco News Friday. ‘$1,900 gold was an overshoot, there were too many speculators in the party and gold proved to be unstable at that price.’ Now that gold is trading above $1,300 an ounce, the Gold Stock Analyst founder said mining companies are better positioned to profit investors. ’It’s good to see companies re-establishing and raising dividends. We don’t need gold to be a good speculation, we need it to be a good investment.’ (show less)

Gold prices have not shot up dramatically on heightened geopolitical tensions instead, they’ve been steadily rising and to longtime investor John Doody, this is a good sign. ‘It’s not going up like a rocket, which is good. I think a steady progression higher is exactly what the metal needs,’ he told Kitco News Friday. ‘$1,900 gold was an overshoot, there were too many speculators in the party and gold proved to be unstable at that price.’ Now that gold is trading ... (read more)

 
 
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Kitco News
The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

 

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