Gold Is Heading Towards a Four-Year High
- Mnuchin’s greenback comments add fuel to fire: Oanda’s Innes
- Bullion hits 17-month high after slump in U.S. currency
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Gold could hit levels last seen in 2013 if the dollar extends its slide and equity markets reverse.
Bullion at $1,400 an ounce is “achievable” in the next two months, Stephen Innes, head of trading for Asia Pacific at brokerage Oanda Corp., said in an interview Thursday. The Bloomberg Dollar Spot Index plunged to the lowest since 2014 after Treasury Secretary Steven Mnuchin endorsed the currency’s drop at the World Economic Forum in Davos.