Gold’s uptrend so far in 2019 has been more than seasonal, and the same macroeconomic forces that have been driving it up could push the yellow metal higher still, said Peter Hug, global trading director of Kitco Metals.
“If the Fed reverses course again because the economy is slowing down, then I think we could have the same liquidity event we had [in 2011], maybe not the same extreme, but I think you do see gold at maybe $1,450, $1,500 [an ounce],” Hug told Kitco News on the sidelines of the Vancouver Resource Investment Conference.