Gold In A Bullish Impulse Phase
Aug 19, 2013
Kitco News starts off the week with Gary Wagner from thegoldforecast.com to talk gold. Wagner briefly talks about famed investor John Paulson’s move out of gold and discusses whether it contributed to the June selloff. Wagner is still calling for $1,400 gold and says that the market is in an “impulse phase,” which is a bullish level of the market. “In a bullish market, it doesn’t tend to go straight up; the market will take stair steps up,” Wagner says. “It will take 3 steps forward then 2 steps back; and 2 steps forward then 1 step back.” With regards to the metals, Wagner is long both on gold and silver. Watch now to hear his outlook for the precious metals’ markets. Kitco News, August 19, 2013. (show less)