Why This Veteran Trader is Eying $1280 Gold

from Kitco NEWS

Kitco News is joined by veteran trader Todd ‘Bubba’ Horwitz, who says he sees gold hitting the $1,280 level. Commenting from the CME floor in Chicago, he told Daniela Cambone more investors are likely to jump into the gold market. After some volatility Tuesday, gold managed to move higher and hit a three-week high. June Comex gold futures were last up $2.40 at $1,260.40 an ounce. Commenting on the U.S. dollar, Horwitz said he expects the currency to gain some footing from here. ‘I do believe that the dollar is going to make one more charge to the 100 before it does eventually give up,’ he said.

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