Ignore this noise; $3,400 gold price is still the target for VanEck

This gold price correction is just a case of price consolidation, and the longer-term bullish picture still remains intact, said Joe Foster, portfolio manager of the VanEck International Investors Gold Fund, who maintains a $3,400 an ounce price target.
“We’ve been looking for a pullback in the gold market. Nothing goes straight up forever. We had a very strong run, well over $2,000 an ounce, so we were expecting to see some consolidation in the markets and I think that’s what we’re seeing today,” Foster told Kitco News. (show less)

This gold price correction is just a case of price consolidation, and the longer-term bullish picture still remains intact, said Joe Foster, portfolio manager of the VanEck International Investors Gold Fund, who maintains a $3,400 an ounce price target.
“We’ve been looking for a pullback in the gold market. Nothing goes straight up forever. We had a very strong run, well over $2,000 an ounce, so we were expecting to see some consolidation in the markets and I ... (read more)

Kitco NEWS

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.

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.