Following the U.S. Federal Reserve's decision to lift the foot off the gas of its aggressive bond-buying program, the consensus expectation has been for both U.S. Treasurys and gold to lose value.
However, Tim McCullough, technical strategist at Lloyds Bank Commercial Banking has different ideas, expecting both to test recent highs. McCullough uses DeMark Indicators, which are a collection of sophisticated market-timing tools created by Thomas DeMark, the founder and CEO of DeMark Analytics. The outcome, he says, is gold bulls should look to load up on more bullion.
"Gold still has to retest that $1,921 area higher again at least up to around sort of the $1,700 area before that long term trend can be exhausted," he told CNBC Wednesday.
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