Gold: Prices may be ready to make a significant move higher as holdings of the precious metal in the SPDR Gold ETF climb to its highest level in more than two months, suggesting a trend change.
Last Fri when US released the disappointing jobs report and hinted at the possibility of further delays of an interest-rate hike by the Fed, Gold for Dec delivery rallied 2.1%.
Market watchers believes that gold may have bottomed and could climb to as high as $1,300 an ounce by the end of this year. The metal remains undervalued when compared to other assets- all of which have surged in recent years.
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