It’s Time to Go for Gold Says Kilburg (GLD, IAU, NG)

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September 19, 2012 11:36am NYSE:GLD NYSE:IAU

When traders think the dollar’s in trouble their first instinct is to trade commodities. Suddenly a bid is put in for silver, gold, oil, copper, natural gas… basically anything bought and sold in International markets makes sense when the greenback is in


peril. That being the case, when Ben Bernanke and the Fed vowed to Quantitative Ease for the foreseeable future it sent precious metals screaming higher at a pace not seen in more than a year.

Jeff “Killir” Kilburg, founder and CEO of Killir Kapital Management says the move in metals is just getting cranked up. In the attached clip he explains that it’s “game on” for gold now that it’s finally broken out of the $1,575 – $1,642 range he discussed with Breakout last June. “I continue to see gold shine higher,” Kilburg says with a glitter in his eye. The first stop is old highs at $1,925. After that he’s “all about the $2,000 price target.”

No rush, however. Having moved 10% in a month the smart play is picking away at the barbaric yellow metal as it “hovers” until after the election. A way to play in the meantime is buying the long-suffering metals miners. Among these Kilburg is taking a particular shine to NovaGold (NYSE:NG), a name in which famed fund manager John Paulson has a huge position.

See the full “Breakout” interview below:


Related:  

 

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