Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Here’s Why Gold Will Hit $1,400 Soon

Thursday, October 20, 2016 3:41
% of readers think this story is Fact. Add your two cents.

Gold nuggetsGold prices are bouncing back after a weak third quarter. Analyst Larry Edelson writes that the yellow metal could soon surge to $1,400/oz or higher.

Gold’s on the move again, and this time, it’s ready to rocket higher. Here’s my latest Artificial Intelligence model forecast for gold:


As you can see, we got the low right on time, on October 7. A bull’s-eye.

And now, gold is already trading at $1,271, roughly $30 off its October 7 low.

So what will cause the next leg up in gold? And how far could it go?

It’s a bit too early to answer the second question, but let me address the first:

There are any number of forces that will drive gold higher. One can only guess. There’s …

  • The elections
  • Putin
  • Germany and Deutsche Bank
  • Some other black swan

For right now, keep your eye on support at the previous low in gold at roughly $1,242. Look for initial resistance at the $1,275 level.

A move above $1,275 would be very constructive and a move back above $1,300 on a closing basis would pretty much cement a rally toward the $1,400 level.

You don’t want to miss this rally. It’s the second leg up and typically, that’s the strongest. Members to my active trading services are already long gold and miners. They’re set to profit, so why shouldn’t you?


The SPDR Gold Trust ETF (NYSE:GLD) was unchanged in premarket trading Thursday at $121.11 per share. The largest ETF tied to the spot price of gold bullion has risen 19.37% year-to-date.

This article is brought to you courtesy of Money and Markets.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.