-
Gold faces deeper correction toward $3,800 as technical risks build - Avi Gilburt
After its biggest monthly loss since the early 1980s, gold has started the new month and the second quarter on a strong footing, with prices back above $4,700 an ounce. However, one market analyst suggests that the unprecedented correction is not over. In an interview with Kitco News, Avi Gilburt, veteran technical analyst and founder of ElliottWaveTrader, said he sees two distinct technical paths that could ultimately drive the precious metal below $4,000, toward $3,800 an ounce. Gilburt’s target represents another 20% drop from current prices. Spot gold is currently trading at $4,775.10 an ounce, up more than 2% ... (full story)