Gold has traded sidewards for the last couple of weeks, but the price activity is forming a bottom, claimed Frank Holmes, Chief Executive Officer of UNITED STATE Global Investors.
Despite market volatility in advance of the November governmental election, Holmes keeps his $4,000 cost target.
" The bottom that you're seeing in gold is like an excellent Miami coastline bottom. Gold will certainly increase and also it will certainly drop, the DNA of volatility you can determine over 20 trading days, 60 trading days, twelve month, it was up when we talked about a time for a modification in at first of August three basic inconsistencies over 20 trading days. It's now down one typical deviation," Holmes told Kitco Information.
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