-
What's in store for gold after dramatic 5% price drop this week?
After shedding nearly $200 this week and consolidating around $1,950 an ounce, gold is looking to resume its rally, but how far can prices really go? Gold's steepest daily correction in seven years was healthy for the market, according to analysts, who were highly anticipating it to happen. “To lose $120 in a single session is some dramatic price action. But it was very healthy for gold to pull back down closer to $1,900. There is good support on the low end, which sets us up for more steady gains going forward into September and the fourth quarter,” Gainesville Coins precious metals expert Everett Millman told ... (full story)