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The gold market is seeing some combination after its historical run to new all-time highs at the beginning of the week. According to one fund supervisor, while gold has room to move higher, it is beginning to overheat and can be due for a loan consolidation duration.
In a meeting with Kitco News, Peter Grosskopf, chief executive officer at Sprott Inc, claimed that gold has enough momentum to push to $2,000 an ounce before there is a considerable debt consolidation duration. Although gold has had an excellent run given that the second quarter, the market is not overvalued.
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Gold price is overheating but still has room to hit $2,000 before it consolidates
The gold market is seeing some consolidation after its historic run to new all-time highs at the start of the week. According to one fund manager, while gold has room to move higher, it is starting to overheat and could be due for a consolidation period.
In an interview with Kitco News, Peter Grosskopf, chief executive officer at Sprott Inc, said that gold has enough momentum to push to $2,000 an ounce before there is a significant consolidation period. Although gold has had an impressive run since the second quarter, the market is not overvalued.
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Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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