by Huileng Tan
Gold prices, fresh from Monday’s 15-month high, look set for further gains as the dollar weakens, according to author and gold markets expert Jim Rickards.
Spot gold hit $1,303.6 an ounce on Monday, its highest price since January 2015, and has since come off to trade around $1,295 an ounce on Tuesday morning in Asia.
But Rickards, who is the author of “The New Case for Gold,” published last month, as well as 2011 best-seller “Currency Wars: The Making of the Next Global Crisis,” said gold was “going to go a lot higher.”
“Gold is really constant, what’s happening is that the dollar is going down [so] the dollar price of gold is going up,” he told CNBC’s “The Rundown”. “If you want to understand where the price of gold is going, you have to ask yourself where is the dollar going.”