Gold To Test $1,350 In 2019; Risks Are To Upside

The worst is over for gold, says this expert.
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Risks for gold are skewed to the upside as the yellow metal has already seen its lows in 2018, said George Milling-Stanley, Head of Gold Strategy at State Street Global Advisors.

 "I think we've tested the downside a good deal in 2018, my guess is that what we'll do is test the overhead resistance during the course of 2019. I'm seeing prices at or above $1,350 level sometime during 2019. I think the risks are all to the upside right now for gold," Milling Stanley told Kitco News.

 Milling-Stanley noted that at these levels, there are consumers in international markets who view gold as very attractively priced.

"If I find it very difficult to get into the [East Asian jewelry] stores because of the crowds, that to me means that there's a lot of people out there who think that gold represents very good value at these prices," he said.

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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.