There are not enough bargain hunters in the gold market to create much needed momentum in the marketplace, says George Gero, vice president and precious-metals strategist with RBC Capital Markets Global Futures. Gero says the gold market is hurting because of lower oil prices, stronger equity markets and year-end tax selling. “We still see lots of bears in the woods,” he says. “Gold prices need to rally back to $1,225 [level] for the technical picture to improve for the gold market,” he adds.
