(Marketwatch) Gold is trading at its highest price in a year, and the yellow metal might already have the fuel to test levels last seen in 2013.
Gold for December delivery settled at $1,351.20 an ounce on Comex Friday—the highest finish for a most-active contract since Sept. 6, according to FactSet data. The gold-backed SPDR Gold Trust touched a nearly one-year high on Thursday.
“All of the ingredients to break $1,400 are there—our debt is out of control and our deficit could skyrocket, especially with infrastructure plus military spending” on the back of a possible confrontation with North Korea, said Jeb Handwerger, editor of GoldStockTrades.com, which offers a newsletter focusing on mining exploration companies.
