Kitco News -- Gold is making a comeback.
 
After a relatively mute summer for the metal, gold ended the week up 2%, to its highest level since June 26.
 
"We definitely hit a bottom last week...I still think we have higher to go," said Gary Wagner of thegoldforecast.com in an interview with Kitco News on Friday.
 
"With the fundamental events in the marketplace now, we could see a break above $1,300 now....[a] break above $1,273 would signal the proper momentum to get back to this level," Wagner said.
 
But, equities in the short-term are still outshining the yellow metal. Since last year's Brexit vote, a portfolio with only 5% exposure in gold is up 32%, beating a 50% exposure which is up 17%
 

This article is commentary by an independent contributor.