CNBC - Standard Chartered Bank Precious Metals Expert: Gold Will Break Out of Slump and Test 2018 Highs

Article by Stephanie Landsman in CNBC financial

One of Wall Street's top metals expects predicts gold will breakout this year.

"The Fed will be on hold in 2019 and 2020 as it prepares its tools for the next downturn which is likely to come in 2021," the firm's executive director of precious metals research told CNBC's "Futures Now."

Investors typically view gold as safe haven asset when economic growth sputters. Plus, Cooper notes gold follows a historical pattern that leads to higher prices when the Fed puts the breaks on a hiking cycle and even went on to cut rates.

"Investor positioning and prices actually were range bound for a short while before they lifted higher say six months later," Cooper said. "The trend that we're seeing at the moment isn't dissimilar to what we've seen in the past."

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