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