A “solid” June payrolls report is not enough to break the current bullish sentiment in the gold market as prices hold above $1,400 an ounce.
The market’s current momentum could lead to gold testing its all-time highs by the end of the year, according to one research firm. In an interview with CNBC’s Squawk Box, David Roche, president and global strategist at London-based Independent Strategy, said that he sees gold prices pushing to $2,000 an ounce as geopolitical uncertainty weighs on global investor sentiment.
“I actually believe financial markets are now poised to crumble like a sand pile,” he said in the interview.
The comments come as gold prices continue to hold critical psychological support; August gold futures last traded at $1,401.70 an ounce, up 0.25% on the day.
Read more about the prediction that gold could hit an all-time high by the end of the year on the Kitco website HERE (https://www.kitco.com/news/2019-07-08/Gold-Could-See-All-Time-Highs-By-Year-s-End-According-To-This-Strategist.html)