Why Trends Forecaster Still Believes In Gold

KITCO NEWS — Gold seems to be off to a good start, and looking ahead, one veteran trend forecaster says he remains bullish on the metal and expects a few surprises in 2016. ‘We believe gold is at the bottom and we’ve been saying this since it started to unravel in late 2011,’ Gerald Celente, publisher of the Trends Journal, told Kitco News Tuesday afternoon. 'I believe in gold.’ Gold futures have started the new year on a stronger footing, getting ready for a second consecutive positive close. Comex February gold futures were last quoted up $2.40 at $1.077.60 an ounce. However, Celente’s optimism doesn’t spill over into the rest of the commodities complex. He said that as the deflationary cycle continues in 2016, most commodities ‘with industrial use are going to continue to decline. There’s too much supply and not enough demand.’