ETF Securities: Gold will hit $1,440 by mid-June 2017

Time to buy on price weakness

James Butterfill, head of research and investment strategy at ETF Securities, has remained bullish on the outlook for gold despite the price of the commodity falling below $1,200 per ounce for the first time since February.

Butterfill said: "We maintain our gold target of $1,440 for mid-June. Aside from the risk from a Trump presidency, 70% of Europe by GDP has elections in 2017 just when populists are rising rapidly in the polls. Political risks remain high. Gold volatility warning as Trump odds rise "It would be prudent to advise clients to expect further weakness in the gold price in the run-up to the [US] rate hike but this will represent a great buying opportunity, particularly as the long-term risks of inflation rise." The price of the precious metal has been falling since the US election, dippi...