Gold to move higher!
Gold Price Chart Looks 'About To Break Higher' - Bond King Jeffrey Gundlach
The gold price chart is going to break higher, says famed investor and “Bond King” Jeffrey Gundlach, who believes that commodities are one of the best buys in 2018.
“The gold chart looks a lot like the commodity chart, like it’s pacing out, about to break higher. And with the dollar getting weaker, I think you stay with that systematic positioning. I’ve been recommending gold for a couple of years,” DoubleLine Capital CEO Gundlach said during Tuesday’s webcast dedicated to discussing DoubleLine Strategic Commodity Fund.
Gold pushed to 1.5-year highs last week, mainly led by weak U.S. dollar. Prices have been consolidating this week, with spot gold on Kitco.com last trading at $1,338.60, up 0.04% on the day.