Gold is coming under pressure, but the charts are setting up for a bullish move that could mean a rally years in the making.
div > div.group > p:first-child"> But, the charts are setting up for a bullish move that could take the yellow metal sharply higher, said Miller Tabak equity strategist Matt Maley Wednesday on CNBC's"Trading Nation."
Gold would need to rally 6 percent to get back to $1,380. It last traded above those levels in mid-2013. On Thursday, the yellow metal was down more than 1 percent, hovering around $1,300. Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management, said Wednesday on"Trading Nation" that the recent outperformance in gold and gold miners is justified, but he's not buying into the rally yet.
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