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Published on Oct 17, 2016
KITCO
NEWS - Although gold prices have come under pressure the past few
weeks, Monty Guild, founder of L.A.-based Guild Investment Management
says he remains bullish, and is still calling for the metal to climb up
to $1,900 an ounce within a two to four year time frame. Gold and silver
markets ended slightly higher Monday in quieter trading. Market
participants are looking for new fundamental information to drive the
markets. December Comex gold was last up $1.50 an ounce at $1,257.00.
December Comex silver was last up $0.044 at $17.48 an ounce. Spot gold,
which has shed about 7% over the past three weeks, is expected to
stabilize after many speculators ditched long positions. 'Technically,
gold is at the end of its corrective phase, it could have one more wave
down, maybe by a few bucks,' Guild said. He is forecasting the Federal
Reserve to hike interest rates by 25 basis points in December and then
says, gold should hit $1,400 an ounce. Guild sees inflationary trends
developing outside the U.S. and tensions in the Middle East as bullish
factors for the yellow metal.
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