Gold Still Has Potential to Hit All-Time High - Analyst

KITCO NEWS - Although gold ( GLD) prices are solidly lower  Wednesday, hitting 10-month lows, Kitco's senior technical analyst Jim Wyckoff sees light at the end of the tunnel. 'On a longer term basis, I do think that gold prices at present values are longer term value-buying opportunity,' he told Kitco News. 'I don't think I'm going too far out on a limb when I say that I think in the next decade, or even sooner, we'll see gold at new all-time highs.' February Comex gold futures settled the day 1.4% lower at $1,173.90 an ounce. On silver ( SLV) , Wyckoff says he'd expect sideways to lower trading over the short term. 'Both gold and silver markets are firmly in bearish technical posture.'