She was bearish on gold for a while. Now Abigail Doolittle thinks bullion has turned the corner. Is she right?
Gold is down nearly 18% in 2013 and is currently trading around $1,382 per ounce. That’s far from two years ago, when talk was of bullion hitting $2,000 per ounce.
Many people have been bearish on gold in recent months, including Talking Numbers contributor, Abigail Doolittle, Technical Analyst at The Seaport Group.
It seems she’s changed her tune. After analyzing recent charts, she now thinks there may be, well, a golden opportunity in gold and the ETF tracking the yellow metal, the GLD.
But is bullion headed to the upside?
We had Doolittle discuss her newfound religion and asked CNBC contributor Zachary Karabell, President of River Twice Research, to give his own analysis on what he thinks is next for the precious metal.
Watch the video above to hear Doolittle and Karabell analyze the future of gold.