Only a Matter of Time Before Gold Price Explodes Higher – Saxo Bank

from Kitco NEWS

The gold market appears to be in a holding pattern around $1,700 an ounce and it could stay that way for most of the year, this according to Ole Hansen, head of commodity strategy at Saxo Bank.

Hansen said that investors have yet to fully understand the impact central banks and government actions around the world will have on financial markets.

“From a gold investment perspective, it’s not really what’s happening today or tomorrow or next month, it’s what lies ahead in six to 12 months and beyond,” he said. “We have right now, as I said, a stalemate because there are some negative factors, but I think they will fade before the positive factors do.”
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