Is the Scale Going to Tip the Other Way for Gold? | Kitco News

from Kitco NEWS

lass=”” >With a slew of banks having turned bullish on gold and investors betting on the metal to push higher, could the scale be ready to tip the other way? Although the metal could see consolidation, prices are set to move sideways to higher this year, says Chris Versace, chief investment strategist for Tematica Research. Speaking with Kitco News Thursday, he said he is also not surprised by silver’s run higher, and sees more potential for palladium. Both gold and silver futures managed to hit a two-year high this week, but have since backed down.  August Comex gold settle down $5 an ounce at $1,362.10 on the day while September Comex silver settled down $0.365 at $19.838 an ounce. This week, Swiss bank UBS was the latest to up its short-term gold forecast to $1,400 an ounce while Wells Fargo said they could see prices fall by $300. Who will be right?

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week:

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: — Or join the conversation on social media: @KitcoNewsNOW on Twitter: — Kitco News on Facebook: — Kitco News on Google+: — Kitco News on StockTwits: