Gold prices can continue to climb even after they hit a multi-year high last week, a global investment strategist said Monday.
In fact, prices are set to “reach $2,000 by the end of the year,” predicted David Roche, president and global strategist at London-based Independent Strategy.
Spot gold prices hit $1,422.85 on June 25, their highest in more than six years. Last week, gold futures also were at their highest since August 2013, reaching $1,417.70.
Gold prices have been on an upward trend amid recent expectations of a Federal Reserve interest rate cut and heightened geopolitical concerns — conditions that might weigh on the stock market, according to Roche.
Via CNBC
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