(Kitco News) While the gold market has its issues, it still surpasses bitcoin in may ways, according to a veteran trader.
"Bitcoin has no intrinsic value," said Carley Garner, president of DeCarley Trading, in an interview with Kitco News, "Bitcoin is more of an idea than an asset at this point, in my opinion."
Turning to gold, Garner said the yellow metal has room to move $30 higher due to seasonal factors. She added that "if...and that's a big if, stock markets find a way to go into some correction, and risk-off assets become attractive again, then I think gold may have a shot at $1,450 [an ounce]."
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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.