Gold a crowded trade, price will be sensitive to holiday shopping data, says Kathy Lien
From kitco.com
This week could present a strategic buying opportunity for gold investors, even as the price trades comfortably near $4,100 an ounce, according to one market strategist. In an interview with Kitco News, Kathy Lien, Director of Proptraderedge.com, said that gold has been fairly resilient in recent weeks as it builds a floor at $4,000 an ounce. However, she added that momentum has clearly slowed, and the precious metal could be sensitive to better-than-expected economic data. Lien added that within the next three months, she could see gold prices trading lower and potentially testing support around $3,500 an ounce. “On ...
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