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The gold market is seeing some substantial marketing stress as it breaks below essential mental support at $1,900 an ounce; nonetheless, one fund supervisor stated that prices are still holding a healthy costs over fair value.
In an interview with Kitco Information, on the sidelines of the Denver Gold Discussion Forum, Charlie Morris, chief investment police officer at ByteTree Possession Administration, said that he presently sees gold's fair worth around $1,600 an ounce.
He discussed that when gold prices were hovering around $1,900 an ounce, the market was trading with about a 15% costs. He included that valuations are in line with the essential aspects driving the rare-earth element. There is still a lot of upside potential, he claimed.
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Gold price is not out of line with fair value, lots of upside potential – Charlie Morris
The gold market is seeing some significant selling pressure as it breaks below critical psychological support at $1,900 an ounce; however, one fund manager said that prices are still holding a healthy premium above fair value.
In an interview with Kitco News, on the sidelines of the Denver Gold Forum, Charlie Morris, chief investment officer at ByteTree Asset Management, said that he currently sees gold's fair value around $1,600 an ounce.
He explained that when gold prices were hovering around $1,900 an ounce, the market was trading with about a 15% premium. He added that valuations are in line with the fundamental factors driving the precious metal. There is still plenty of upside potential, he said.
__________________________________________________________________
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