Fundamentals point to brighter days ahead for gold prices, says Mike McGlone, senior commodity strategist at Bloomberg Intelligence, who noted that a breakout is imminent. The key factor to watch for is the dollar, he said.
“The key thing I’m watching for is the trade-weighted broad dollar’s peak near its 16-year high, and last year we had the VIX volatility index on an annualized basis bottom,” McGlone told Kitco News. “That process should continue and that puts gold in a pretty strong trajectory higher.”
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