from Kitco NEWS
Buy low, sell high, as the old adage goes but one veteran trader says this might not apply to gold right now. Speaking with Kitco News, Todd ‘Bubba’ Horowitz said it is important for investors to look at the yellow metal’s relative value, especially if you’re investing for the longer term. ‘I think it’s going to be very tricky here,’ he said. ‘I don’t believe the Fed is going to raise rates, I don’t think the street believes it yet but if they do, the dollar is going to skyrocket and I think that’ll put a lot of pressure on gold.’ The yellow metal hit a two-month low Tuesday with December Comex gold futures last trading down $14.50 at $1,312.60 an ounce.
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