Tuesday, October 22, 2013
Cycles Say Gold Low In November - Kitco News
Are the cycles saying gold reached its bottom? Kitco News' Daniela Cambone speaks with David Gurwitz, managing director at Charles Nenner Research Center, about gold's volatility and what the cycles are saying about the metals. "People went crazy the other day when gold was up 37 points," Gurwitz says. "According to us, we are looking for a low in gold at the end of November, the same for silver. So the move was only a bounce." According to Gurwitz, gold prices are flashing sell signals as cycles are down; the yellow metal could even retest $1,200. However, if gold closes above $1,330, Gurwitz says this would be a short-term buy signal. Watch now to hear more of his comments on gold, silver, treasuries and stocks, among other things. Kitco News, October 22, 2013.