Gold has been gaining steam over the last couple of days following news that North Korea could make nuclear warheads small enough to fit on missiles and the intense rhetoric that followed between President Donald Trump and North Korea’s army.
The precious metal has rallied almost 3% since the news broke on Tuesday morning and is now trading at its best level in more than two months.
And there may be more gains ahead, according to Jeffrey Gundlach, the founder, and CEO of DoubleLine Capital. “Cramer today was positive on a stock pointing out its “cup and handle” chart pattern, one of the most bullish. He’s right. Gold has one too,” Gundlach tweeted.