KITCO NEWS -- Before you consider exiting the gold market now, think twice, said Paul Mladjenovic, author of Precious Metals Investing for Dummies. "I think the risk is not being in gold and silver right now," said Mladjenovic in an interview with Kitco News on Tuesday. The author suggested that gold will likely head north of $1,300 an ounce and silver will reach $20 an ounce. Gold prices ended a choppy, two-sided trading session slightly lower Tuesday. A solid rebound in the U.S. stock market and a higher U.S. dollar index on this day was negative for the precious metals. Gold prices also saw a bit of profit taking from recent gains that pushed prices to a four-week high Monday. Silver saw decent gains Tuesday and hit a four-week high. April Comex gold settled at $1,255.60 an ounce, relatively unchanged from the previous day.
This article is commentary by an independent contributor.