$3,400 Gold Price Target Still Intact But ‘Nothing Goes Straight Up Forever’ – VanEck

• Kitco NEWS
  This gold price correction is just a case of price consolidation, and the longer-term bullish picture still remains intact, said Joe Foster, portfolio manager of the VanEck International Investors Gold Fund, who maintains a $3,400 an ounce price target. “We’ve been looking for a pullback in the gold market. Nothing goes straight up forever. We had a very strong run, well over $2,000 an ounce, so we were expecting to see some consolidation in the markets and I think that’s what we’re seeing today,” Foster told Kitco News. Spot gold last traded at $1916.80, down 5.5% on the day.

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