Peter Hug, global trading director at Kitco Metals Inc., likes a little risk in the market.
With intensifying geopolitical concerns across the globe and a Federal Reserve nearing its limit for enacting tightening monetary policy, gold could continue on an upward trajectory in the coming months, Hug explained.
"It's becoming much more volatile. And volatility is extremely good for gold," Hug said at TheStreet's investor boot camp this month.
Per Hug's forecasts, gold at $1,320 has "performed extremely well."
"From a technical perspective, and that's what we've been watching very closely at Kitco," Hug said, "we're looking at $1,365. That's a quadruple top in gold over the last three years. Every time it gets there, somebody hits the market. If we can get through $1,365, I think $1,425 is pretty much a given."