Gold Prices Moving Toward $1,300
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
The new year is here and so is gold’s run to $1,300. The bullish pattern in the metals continues, and new highs should be around the corner. There is no reason to believe gold won’t reach $1,300 and silver $16 in the next couple of weeks.
Our expectations are simple and straight forward -- the rally is on and the metals are preparing for the next bull market. Gold and silver are ready to run; all dips to support should be bought. We expect the metals to consolidate as they prepare to break out to the upside.
As the rally in metals continues, many are concerned about the strength of the dollar. Although there is a correlation, the exact number is not known and there is no reason to believe that the metals and the dollar can continue to rally together.