NEW YORK (TheStreet) -- Jon Nadler, senior analyst at Kitco.com, reveals whether gold prices have more juice in their rally or if a bigger correction is in store.
Jon Nadler :...Short term I think we'll get more of the same which -- volatility. Wide swings. Punctuated by. You know seldom used by the rumor and less -- the point is that as we -- the corner into the year -- you know homestretch. We're gonna get some profit taking from from funds that have been quite profitable on these positions. And we're gonna get perhaps -- reaction to any kind of -- So that type of volatility. I think -- stay we'll have to see also what happens with China because that could be real wildcard in this equation if -- tighten sooner than later. -- Well you know the trend may have been truncated here actually if if key support levels -- broken around the thirteenth having your lower than we could have more meaningful correction most of which has been really absent from this particular market. For a number of months now we really haven't seen anything of a significant size clean out. Gold broke to new -- Well it it it only means that a near record was etched into the books most of what was achieved. In the second go around beyond fourteen -- quarter. Was really momentum driven sentiment driven men and really not based on on on fresh business thinks that this isn't -- but. Yeah precisely -- that that would be a case of gold on steroids. -- But the moment it's really remains. Around 2890. And if it breaks of course 27 and 25 then we're looking down into the zone anywhere from nineteen to 23.
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