Is $1,400 Gold The New $1,300? - Bloomberg Intelligence’s McGlone

Gold prices moved Friday, getting a bounce ahead of this weekend's elections in France and according to Bloomberg Intelligence’s Mike McGlone, the metal may have more upside. Speaking with Kitco News, McGlone said there is a case for gold to hit $1,400 an ounce. ‘You have to look at gold in the bigger picture, it’s doing what it’s supposed to be doing in this environment,’ he said. ‘It’s going up to the next level.’  After hitting five-month highs Monday, June gold futures are heading towards a neutral weekly close, last trading at $1,288.50 an ounce.  (show less)

Gold prices moved Friday, getting a bounce ahead of this weekend's elections in France and according to Bloomberg Intelligence’s Mike McGlone, the metal may have more upside. Speaking with Kitco News, McGlone said there is a case for gold to hit $1,400 an ounce. ‘You have to look at gold in the bigger picture, it’s doing what it’s supposed to be doing in this environment,’ he said. ‘It’s going up to the next level.’  After hitting five-month highs Monday, June gold ... (read more)

 
 
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The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

 

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