What Is Gold’s Next Catalyst? — Barry Ritholtz

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Could the S&P reach 2,300 in 2017? Kitco News talks with CIO of Ritholtz Wealth Management Barry Ritholtz to discuss this upside potential in the U.S. stock market and what that could mean for gold. Ritholtz recently wrote an article based on Merrill Lynch technical analyst Stephen Suttmeier’s report showing that the S&P may reach 2,330 by 2017 based on historical data. “If you go back and look at the previous breakouts, like the ones Suttmeier was referencing, you end up with a lot of false breakouts that subsequently collapse.” Ritholtz goes on to say that he is not sure this idea is accurate but was still interesting to look into nonetheless. With regards to gold, Ritholtz says he is “asset class agnostic,” meaning that he does not have a love or a hate for any special asset class. “The problem that I think a lot of gold traders ran into is that when conditions changed [economic improvements], they didn’t change their narrative. They stayed with the old story.” Tune in now to hear where Ritholtz would put his money in the coming year and which investments to be weary of. Kitco News, November 22, 2013

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