Showing posts with the label Kitco NEWS

Gold Article: Can anyone predict the price of gold? It’s 'wishful thinking', says one gold mining consultant

By Anna Golubova Source: KITCO NEWS Trying to accurately pinpoint where gold prices are heading could be as impossible as trying to predict the future, especially in light of all the volatility the market has seen this summer, according to one gold mining consultant. “Essentially, what appears to be a reasoned forecast from a reputable source is often little more than a guess, or perhaps wishful thinking,” Surbiton Associates director Sandra Close said at the 2019 Diggers and Dealers mining conference, which took place in Australia’s ‘gold capital’ Kalgoorlie earlier this August. “Forecasting the price of anything, including gold, amounts to predicting the future. No one can actually predict the future … that is why I never predict the gold price,” Close added. People haven’t stopped trying, and Close notes that price forecasts have become very popular during this summer rally. But how accurate can those forecasts be considering daily volatility of around $20 for g

Kitco NEWS | Expert: Stay Long-Term Bullish On GOLD