A Final Washout For Gold Before Brighter Outlook; Silver a Great Bet – Veteran Trader

Kitco News - The second half of 2016 may be positive for gold but the metal will first need to see a final wash out, said Vince Lanci, Managing Partner of Echobay Partners. Speaking with Kitco News on Tuesday, Lanci described gold as the tallest ‘pigmy’ in the commodities space, especially when compared to crude oil. ‘I think there could be another final washout to get the last longs out -- before the market has a chance to bottom and start its rise up in the second half of 2016,’ he said. On the topic of the recent U.S. Fed rate hike, Lanci said that the central bank will ‘regret’ its decision and it be would ‘suicidal’ to the U.S. economy if the Fed would tighten further in 2016. Kitco's Daniela Carbone has details from New York.