With many thinking the world is ending, gold has been hot.
Gold prices ended Thursday with good gains, finishing near a 10-month high. One technical analyst is so convinced by the metal's chart action that he is calling for the official end of the bear market.
"I thought the move up to $1,331 was healthy, and the pullback was actually healthier. I'm not concerned about the dollar anymore, gold is becoming a new currency for a lot of people," said Todd 'Bubba' Horwitz, the founder of BubbaTrading.com.
"I am officially calling the bear market for gold officially over -- $1,370 will be our next major stop," he said.
Many traders saw early price weakness as a value-buying opportunity and jumped on board the long side. A weaker U.S. dollar index also worked in favor of the precious metals market bulls.
Another gold bug sees higher prices, too.
Best-selling author of Currency Wars Jim Rickards isn't giving up on the yellow metal just yet.
"The bigger picture, the one I'm looking at, is that gold hit an interim low on Dec. 15 and it has been grinding higher ever since. It's one of the best performing assets of 2017,' Rickards said in an interview. He added that gold could eventually touch $10,000 an ounce.
Gold prices rallied to 11-month highs this week as North Korea launched a missile over Japan. Even if tensions seem to have cooled off, which has pushed the safe-haven metal back down to around $1,312.70 an ounce, Rickards is not quite convinced.
'People seem to have very short attention spans. I'm just looking down the road and you can see the war is coming,' he said.
Here's what else Rickards had to say.
This expert take on gold is brought to you by www.kitco.com.
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