Why $1,200 is a Sweet Spot for Gold

Gold recently reached its highest percentage gain in five weeks rallying above the $1,200 mark, and Myra Saefong of MarketWatch asks Frank Holmes his thoughts on the movement. Frank says that this price is a “sweet spot” for the precious metal and comments that is would be reasonable to see gold go as high as $1,350 an ounce by year end. He explains that due to the “DNA of volatility” in the metal, it’s not unusual to see the price fluctuate plus or minus 15 percent.

Read the full article to find out what Frank says could be a big surprise for the gold market looking ahead.

Want more on the gold market? Be sure to tune in every Monday for Gold Game Film with Frank Holmes and Kitco News! Watch the latest episode here.

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The COMEX is a commodity exchange in New York City formed by the merger of four past exchanges. The exchange trades futures in sugar, coffee, petroleum, metals and financial instruments.