"I'm a long-term gold bull," CEF Holdings chief Warren Gilman tells CNBC in an Oct. 30 appearance with guest host and U.S. Global Investors head Frank Holmes.
"And frankly I don't see too many headwinds in the long term stopping gold from going well through $2,000 and going far beyond that, frankly. I do have a bit of a short-term issue with gold. I think the charts are looking a little bit underwhelming at the moment, and I think that support level around $1,700 could be breached. And this would give me a buying opportunity back in the $1,600s, which is what I'm looking for. I'm always looking for opportunities to buy on the dips, as they say. ... The upside is well beyond $2,000."
Holmes then goes on to discuss gold's seasonal price patterns, explaining that October's price dip was expected and that prices should rise going into major gold-buying holidays in India (Diwali), the Western world (Christmas), and China (New Year).
"And frankly I don't see too many headwinds in the long term stopping gold from going well through $2,000 and going far beyond that, frankly. I do have a bit of a short-term issue with gold. I think the charts are looking a little bit underwhelming at the moment, and I think that support level around $1,700 could be breached. And this would give me a buying opportunity back in the $1,600s, which is what I'm looking for. I'm always looking for opportunities to buy on the dips, as they say. ... The upside is well beyond $2,000."
Holmes then goes on to discuss gold's seasonal price patterns, explaining that October's price dip was expected and that prices should rise going into major gold-buying holidays in India (Diwali), the Western world (Christmas), and China (New Year).
More information can be found online at http://www.goldbullionadvisors.com
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