India  
NewsR.in
> >

Everything Is Setting Up For A Big Move To The Upside

Video Credit: The Street - Duration: 01:38s - Published < > Embed
Everything Is Setting Up For A Big Move To The Upside

Everything Is Setting Up For A Big Move To The Upside

Gold has another rally up ahead, according to Todd Horwitz, chief strategist of BubbaTrading.com.

"Everything is setting up for another big up-move [in gold] and the next big test will be to take out $1,450.

If we can get through $1,450, I think we're on our way to $1,500," he said.

Spot gold last traded at $1,444.70 an ounce on Thursday.

Horwitz said prices are in for a bid if key levels are broken.

"If this breakout can continue, we can clear $16 or $16.20 [an ounce], then I think we're on our way to $17 and then if we can get through there then I think you're on your way to $20," Horwitz told Kitco News.

Horwitz noted that silver has been undervalued relative to gold, but markets have taken notice and pushed prices up recently.

"If you look at the two charts side by side, silver looks like it ran out of business compared to gold but all of a sudden, silver has caught a bid and it looks like it wants to go higher," he said.

Watch the full interview and more on Kitco News.

Related.

This Is How Much Room Gold and Stocks Have Left Before a Correction World's Largest Gold Coin Lands in New York

0
shares
ShareTweetSavePostSend
 

You Might Like

Environmentally friendly: newsR is hosted on servers powered solely by renewable energy
© 2019 newsR Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest