Curry advised buying a dip to $1,309 per ounce and acknowledge his call could be wrong if gold trades down to the $1,250 area, a price point at which markets could again fret about the profitability of already downtrodden gold miners. [Gold Miners ETF: A Falling Knife]
Curry sees it next going towards $1,433 and potentially as much as $1,500 to $1,533, but a move to $1,375 an ounce could be needed as confirmation, CNBC reported. Thursday’s high for Comex gold for December delivery was $1,358.80 an ounce.
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