Here's Why Gold Has Room to Surge to $1,400 an Ounce

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Here's Why Gold Has Room to Surge to $1,400 an Ounce

Here's Why Gold Has Room to Surge to $1,400 an Ounce
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Here's Why Gold Has Room to Surge to $1,400 an Ounce

by TheStreet 2:24 mins

Gold prices rise about 10% in the first half of 2014, following the yellow metal's worst year in three decades. Independent metals trader Eric Zuccarelli tells TheStreet's Joe Deaux that he expects prices so slowly rise the rest of the short trading week as many traders don't want to be caught short selling in a quiet market. With investors viewing the Federal Reserve's latest policy statement as supportive of looser monetary policy for longer and the escalation of violence in Iraq, gold has held well above $1,300 an ounce for a week and a half. Zuccarelli says the price could reach $1,400 an ounce.

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