Can Gold Stocks Really Hit These Price Targets?
As The End Of 2019 Nears, Can These Gold Stocks Meet Expectations?
In the past few months, we have seen gold stocks and gold prices begin to shoot up. Many analysts have since stated that the price target for gold is $1,700 per ounce by March of the upcoming year. Analysts are stating that there could be an almost 15% rise in gold prices. This rise could occur during the course of the next few months.
Much of this is due to the standard rising price of financial assets that occurs regularly. With gold, there is an almost predictability of what can occur with the price. These ups and downs are usually characterized by past movements in the pricing of gold bullion itself. In this way, it becomes easier to estimate where the price could end up.
Is There Evidence of Bullish Trading?
The short answer is yes. In the past few months, we have seen some slow to rise gold stocks to watch simply remain at stable levels. John Roque and Rob Ginsburg, analysts at Wolfe Research stated that “gold got very overbought into late August/early September, and since then it corrected its overbought reading.”
Analysts like these spend most of their days researching the technical aspects of these key mining markets. The pair went on to state that they expect there to be a turn in the pricing of gold soon.
This turn could see the precious metal surge by as much as 15% over the course of the next few months.
Read More
- The Bulls Flood Into Gold Stocks
- Are Mining Stocks Set To Breakout Soon?
- 3 Mining Stocks To Watch In December 2019
Currently, it seems as though there is a solid price base for gold to work off of. This means that it could be setting itself up for a major bullish move in the future. There’s a hot target on 2020. Many analysts state that they see some positive momentum stuffed in gold’s stockings. But only time will tell what happens to the famed shiny metal.
Originally published at https://goldstocks.com on December 24, 2019.
