With Gold Rallying, Analyst Say $1,400 Is Its Next Stop

KitcoNews/Allen Sykora/08-29-17

Some analysts are suggesting gold’s rally could carry all the way to $1,400 an ounce since a “perfect” atmosphere has developed, including low interest rates, a weak U.S. dollar, a pickup in physical buying and continued geopolitical tensions.

…An overnight leg higher came after North Korea reportedly fired a missile that flew over Japan before landing in the sea, thereby prompting safe-haven demand due to renewed geopolitical tensions, analysts said. However, they emphasized that other catalysts are also at play, including the euro’s move above $1.20 for the first time since early 2015.

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