Gold price is in a new chart pattern and there is no telling how high it will go – Wells Fargo

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – The gold market has been stuck in a fairly narrow range for nearly two months, and time is quickly running out if the precious metal is going to see a new high above $2,000 an ounce by year-end.

However, one market analyst says that gold’s destination is less important than the journey that it is currently on. In a recent interview with Kitco News, John LaForge, head of real asset strategy at Wells Fargo, said that he is maintaining his updated year-end target at $2,100 an ounce; however, he added that time is running out to achieve that goal. Rather than looking at year-end targets, he said that investors should pay attention to the long-term uptrend.

LaForge noted […]

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