Why gold price could retest $1,400 before renewed momentum

Monetary policy remains the driving force behind more momentum in precious metals , but gold prices may not see linear growth, said Ian Ball, CEO of Abitibi Royalties.

“I think gold is going to go higher, but it’s not going to go in a straight line. I wouldn’t be surprised if we retest $1,400 or lower because you have to consolidate, but what’s going to be the driver is going to be U.S. monetary policy,” Ball told Kitco News.

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INDICES

Name Last Change
DOW 26770.20 0.96%
S&P 500 2986.20 0.39%
NASDAQ 8089.54 0.83%
TSX 16377.12 0.30%
TSX-V 542.43 0.00%

Resource Commodities

Name Last Change
Gold 1490.25 0.18%
Silver 17.53 0.06%
Copper 2.63 2.625
Platinum 901.00 0.67%
Oil 53.78 0.28%
Natural Gas 2.32
Uranium 24.88 0.00%