OUTLOOK 2014: Stock Market To ‘Top Out’, May Be Good For Gold: Wyckoff

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Kitco News speaks with Jim Wyckoff about the Fed’s tapering announcement, the stock market rally and the subsequent dip in gold prices. “When the US stock index made those moves sharply higher, that put downside price pressure on the gold market,” Wyckoff says. “The money flow started to go into the stock market, that hurt other asset classes, including gold and that’s why you saw gold selloff.” However, Wyckoff is not so optimistic about this bull-market run in equities and says that it may be “short-lived.” “There is not much time left before we top out,” he adds. Although he is not sure when exactly it will occur, Wyckoff says a downturn in stocks will occur. “My guess would be in the first quarter of 2014.” Tune in now to hear his ratings for gold and silver as well as key support & resistance levels for the metals. Kitco News, December 19, 2013.

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