Gold Bugs Still Biting

Gold is on track to hit $1,200 an ounce even sooner than expected after reaching $1,167.35 an ounce in London this morning. This is an increase of about $15 an ounce since Friday’s close, and with the dollar expected to continue to lose ground and US interest rates to remain low well into the new year, gold will likely continue to gain.

“Sentiment is very upbeat and gold is looking increasingly attractive,” said Stefan Graber at Credit Suisse.

BBC News

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.