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Gold Hits Six-Week High; But Expect One More Leg Down – Expert

from Kitco NEWS

Kitco News — Gold prices were higher in late U.S. trading Tuesday and hit a six-week high during the session. Reports Tuesday said demand for physical gold from China is increasing ahead of the Chinese lunar new year, which starts at the end of the month. The technical chart postures for gold and silver are also turning more bullish early this year explained Todd ‘Bubba’ Horwitz but he says expect one more leg down for gold prices. February Comex gold was last up $0.70 an ounce at $1,185.60. March Comex silver was last up $0.192 at $16.875 an ounce.

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