Gold Seen Fighting Back as Dollar Rebound Is Poised to Reverse
- Bullion will advance above $1,300 by end of the year: Pictet
- Growing trade tensions may at some point be positive for gold
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Much maligned gold is set to stage a comeback as the dollar weakens, according to Pictet Wealth Management.
Bullion will climb to $1,320 an ounce by the end of the year, said currency strategist Luc Luyet, which compares with about $1,256 on Wednesday. While trade tensions haven’t yet provided much support, an escalation combined with a slide in the dollar could lift prices, Geneva-based Luyet said on Monday.