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.”
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