Jul 28, 2020 Guest(s): Peter Grosskopf CEO, Sprott
Momentum in the gold market is slowing down after its historic run to new all-time highs at the start of the week. According to one fund manager, while gold has room to move higher, it is starting to overheat and could be due for some consolidation.In an interview with Kitco News, Peter Grosskopf, chief executive officer at Sprott Inc, said that gold has enough momentum to push to $2,000 an ounce before there is a significant consolidation period. Although gold has had an impressive run since the second quarter, the market is not overvalued, he said.