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Buy Gold On Dips In Q2 and Q3, Says This Expert

Gold has established a price bottom over the last few years and is now ready for a rally, according to one expert, who is bullish on the metal.

“I don’t think a bull market has really begun. Once we start getting above $1,300- $1,400 on the upside, that’s really where the price trend will really start to establish itself,” BigPicture Trading chief derivative market strategist Patrick Ceresna told Kitco News on the sidelines of the Vancouver Resource Investment Conference.

But, before a rally is triggered, there will likely be a minor pullback in gold prices, Ceresna pointed out.

“For the first quarter of the year, the gold highs are in. So I am looking for a pullback to around $1,250-40. But, going into the second and third quarters, we would be buyers on dips,” he said. “Gold would have already gone to $1,000 if it was destined to go there. The entire last few years have been one bigger bottoming formation where gold was establishing its lows.”

 

Altus Strategies PLC (LON:ALS) is a project generator focused on Africa, including projects in the Ivory Coast. Their aim is to deliver superior shareholder returns by cost-efficiently discovering multiple projects simultaneously, prior to entering joint ventures with third parties who fund the next phases of exploration and development. 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.