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My two-way call on gold
Michael Jarman from H20 Markets is looking to make a profit from the Gold mining sector; Gold edged higher after the Fed said it would continue to support the US economy by buying back bonds this week.
Michael says that gold is usually bought as a hedge against inflation or during a banking crisis. Although neither of those are happening at the moment, he expects gold miners to come under pressure to raise capital.
As a result, short-term, he is looking to sell into the momentum. Long term, his price target is $1550 but in the short term, he expects gold to
fall to $1200 / ounce by the end of this quarter.
01:18 minutes
Tags: banking crisis, bonds, capital, commodities, commodity, economy, financial crisis, fx, gold, h20 markets, inflation, investing, investment, markets, michael jarman, miners, mining sector, profit, saxo bank, saxo tv, the fed, trade, trade idea, trader, trading, tradingfloor.com, us economy