Guarded Optimism Is Sentiment: Bart Melek – Kitco News LBMA Coverage

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Kitco News speaks with TD Securities’ Bart Melek about the overall sentiment in the precious metals industry. “People are worried of the market potentially dropping,” Melek says. “At the end of the day, most participants think that gold will hold firm near current levels and we’re not going to see a major selloff.” Melek expects gold to remain in the $1,305-1,425 range and the direction will be determined by economic data coming out of the U.S. Melek also discusses the Fed, quantitative easing and the U.S. government shutdown that has recently dominated news headlines. With regards to silver, Melek expects the metal to remain in the $21-24 range over the next several months. Kitco News, October 1, 2013.

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