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Gold Investing

Joe Cavatoni: Gold Price Drop — Why it Happened, What's Next

Joe Cavatoni of the World Gold Council emphasized that gold's long-term fundamentals remain strong despite its price correction.

Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, breaks down gold's record-setting run past US$5,500 per ounce as well as its correction.

"At the end of this, you're looking at a lot of people who were pushing the price higher — speculative in nature — pulling back and taking money off the table," he said.


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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.