Gold is up about 14% since the year started. Today the market is a little higher so gold is down slightly. But it has momentum and could go a little higher from here.
However, it’s important to remember that the metal is still down significantly from its 2011 high, and hasn’t broken out of that downward spiral.
Between 2006 and late 2011, gold bubbled up 274%. And since then, it’s fallen 37%.
Harry thinks gold could go as high as $1,300 in the short-term as the market continues to fall. But after the panic sets in, investors will turn to safe-haven assets like the U.S. dollar, and Harry says gold will eventually drop to $700 – even as low as $250.