With continued volatility in the gold and silver markets, today King World News reached out to 40 year veteran John Hathaway. Hathaway is the prolific manager of the Tocqueville Gold Fund and he has achieved a 5-star rating from Morningstar. Hathaway sent KWN, exclusively, an outline of 9 key points in the gold and silver markets. Here is a portion of one of the 9 key points (all 9 points below): “The fact that gold has survived the negative news flow from the monetary and economic front is encouraging. If gold can withstand the apparently changing narrative that had underpinned a bullish stance on gold, it will be a sign of enormous strength.”
John Hathaway’s 9 key points sent to KWN:
Brief comments on recent market action and outlook for precious metals:
1.The recent sharp decline appears to have been another test of the December low of $1532/oz intraday. Gold fell to $1675 on March 9th from $1788 including a drop of $72 on February 29th. So far, the downside was contained near the 200 day moving average. From a purely technical standpoint, the uptrend in gold seems intact.
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