from Kitco NEWS
The gold market is struggling to find consistent momentum and it may be time for the red hot metal to cool down, according to Carley Garner, co-founder of DeCarley Trading.
Garner said that after gold’s run, which saw prices hit a 7.5-year high last month, a correction would be healthy. Although Garner sees the possibility of gold testing resistance at $1,650 an ounce, she said that she is optimistic prices can move higher later in the year.
“As long as that area holds, I think gold’s got a good shot at it, running back up,” she said. “Assuming those levels hold, as I expect them to, I’m thinking somewhere in the $1,800, to $1,850 area.”
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook – https://www.facebook.com/KitcoNews/?r…
Twitter – https://twitter.com/kitconewsnow
StockTwits – https://stocktwits.com/kitconews
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscriptio…
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.