Kitco News reviews forecasts of GDXJ, Gold, and the S&P500
Gold stocks are showing short-term consolidation, but should they break resistance, another bullish leg could be sustained, pushing the VanEck Vectors Junior Gold Miners ETF (GDXJ) up to 60% higher in a few months, said Chris Vermeulen, chief market strategist of Technical Traders. The gold bullion is seeing similar price action, and chart patterns point to a $2,100 to $2,300 by year-end. In this interview, Vermeulen breaks down the trend lines and technical indicators he’s analyzed to make his forecast.
CLICK THE IMAGE BELOW TO WATCH THE INTERVIEW
0:21 – More volatility ahead?
3:46 – Gold miner stocks forecast
11:10 – Gold bullion forecast
18:16 – S&P 500 forecast.
