watch now
It may soon be safe to buy gold .
That’s according to Mark Newton, founder of Newton Advisors, who says the precious metal could be a buy on a pullback.
“On the intermediate term basis, the charts look pretty compelling.” Newton said on CNBC’s “ Trading Nation ” on Thursday. “The weekly trend still looks quite bullish, and one would want to really buy into any sort of pullback we see over the next month.”Gold fell below $1,865 on Thursday despite a bullish note from Citi. Analysts forecast an average price of $2,500 next year as part of their bull case for gold. Newton says the time is coming to dip into the safe-haven asset.“We did move back to all-time high territory over the last two years. We moved from August of 2018 into August of this past year. … I’m looking at about $100 lower, $1,750 down to $1,650, […]
Click here to view original web page at www.cnbc.com
Posting Guidelines
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do take our Terms of Use seriously
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content
Get involved!
Get Connected!
Come and join our community. Expand your network and get to know new people!
Comments