Opinion with Peter Hug
Gold Zooms After Dovish Fed
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
(Kitco News) - Gold's recent move was a relatively easy call after its consolidation and the Fed did exactly what we expected. I am a seller at $1,392 and would re-enter once we get a close above $1,400. The Fed is now priced in, but the wild card, is the U.S. response to Iran. If that escalates, I see more upside short term. After gold’s run there is nothing wrong with taking profits.
By the way, retail investors continue to sell, so that is a contrarian bullish indicator.