Gold remains a "sideways market" in the absence of new easy money, said Bob Haberkorn, senior futures broker with RJO Futures.
Gold prices are likely to remain in a range between $US1,608 and $US1,571, he added.
While this trading environment will please day-traders, who aim to make small profits off bets on price direction, it is unlikely to draw more long-term investors to gold, Haberkorn said.
"Right now, it's not a market to be buying and holding gold," Mr Haberkorn said.
To read the full article with Bob's comments, please go to BusinessSpectator.com.
Series 3 Licensed
Senior Commodities Broker
Bob started his career in 2005 as a broker with Lind-Waldock. He is often quoted in industry sources, such as the Wall Street Journal in regards to precious metals and the copper market..... Read More
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