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Gold’s consolidation is a healthy pause before the next leg higher, says Sprott’s Ryan McIntyre
The gold market may be struggling with prices unable to break above $4,000 an ounce as momentum investors continue to take profits, but the conditions that drove prices to all-time record highs last month remain firmly in place, according to one portfolio manager. In a recent interview with Kitco News, Ryan McIntyre, Senior Managing Partner at Sprott Inc., said that while gold prices could continue to consolidate in the near term, they still have significant upside potential over the long term. He added that, given gold and silver’s parabolic rally from September to October, a consolidation would be healthy to cool ... (full story)
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