Gold is poised to move higher later this year, powered by Fed dovishness on interest rates and lingering global uncertainties, the global head of precious metals at financial services firm INTL FCStone told CNBC.
Gold is poised to move higher later this year, powered by the Federal Reserve's less aggressive stance on interest rates and lingering global uncertainties, a precious metals expert said Tuesday.
"I think that we expect gold to continue to trade pretty much within that range for the coming months," Huxley told CNBC on Tuesday."But over the second half of the year we expect it then to grind higher, and potentially it could test 1,400 towards the end of the year," he added, referring to gold's price per ounce in relation to the dollar.
Huxley is not alone in his view on gold. Metals expert Suki Cooper of Standard Chartered said last month she expects bullion prices to move higher this year. "And turn the clock back maybe 10 years, before the financial crisis, central banks were net sellers of gold and now there's a dramatic twist, probably a thousand ton twist," he said.
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