Tuesday, August 19, 2014
All Signs Pointing Down For Gold, Fed's Jackson Hole on Radar - iiTrader
All eyes are on Jackson Hole this week as investors anticipate what Fed Chair Janet Yellen and ECB President Mario Draghi have to say on their respective monetary policy. Kitco News speaks with iiTrader’s Bill Baruch to find out how this may affect the gold market by the end of the week. “We have FOMC minutes and Jackson Hole around the corner but if we continue to get consistent data out of the U.S. that’s what is going to break this [gold] market,” he says. “The reality is the market is subdued and it’s coiling…we’re going to get a directional move and all signs are pointing to down.” Baruch also comments on the geopolitical tensions around the globe and how he sees it moving the gold market in the short-term. Tune in now to find out his key ranges for the gold market and why he is not keen on ‘marrying’ any gold position at the moment. Kitco News, August 19, 2014.