Is $1,400 Gold the New $1,300? - Bloomberg Intelligence's McGlone
As gold prices make a move higher late Friday, Bloomberg's McGlone says $1,400 may be in the cards.
KITCO NEWS - Gold prices moved Friday, getting a bounce ahead of this weekend's elections in France and according to Bloomberg Intelligence's Mike McGlone, the metal may have more upside. Speaking with Kitco News, McGlone said there is a case for gold to hit $1,400 an ounce. 'You have to look at gold in the bigger picture, it's doing what it's supposed to be doing in this environment,' he said. 'It's going up to the next level.' After hitting five-month highs Monday, June gold futures are heading towards a neutral weekly close, last trading at $1,288.50 an ounce.
