Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, breaks down gold’s record-setting run past US$5,500 per ounce as well as its correction.
‘At the end of this, you’re looking at a lot of people who were pushing the price higher — speculative in nature — pulling back and taking money off the table,’ he said.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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