Top Stories This Week: Expert Lays Out Gold’s Path Higher, Quebec Miners Face Wildfires

The gold price continued to spend time below US$2,000 per ounce this week as market watchers wait for the latest move from the US Federal Reserve. At the time of this writing on Friday (June 9), the yellow metal was sitting around US$1,960.

The Fed will meet next week from June 13 to 14, and the question of whether it will hike again or pause continues to make headlines. Market participants will have to wait and see, although it's worth noting that the Bank of Canada raised its overnight rate by 25 basis points on Wednesday (June 7). The increase was the first since the Canadian central bank's January pause.

While gold's short-term outlook is tricky to gauge, many experts have a positive long-term view. Chris Temple of the National Investor recently shared the three factors he thinks need to happen for the price to rise, with the first being a pivot from the Fed — and by that he means a true pivot, not a pause, which may or may not happen next week.

The second ingredient is that the economy needs to be bogged down more as the Fed pivots and starts printing money; the third is that other avenues for investors must be closed off — in other words, distractions need to be removed.

"You need to see those three things," he emphasized. "I think they're coming, (but) they're not going to all come on the same day or the same week. And I think we're talking months rather than years before we see that."

Temple also shared his thoughts on uranium's compelling fundamentals, saying it's the single best story he can see right now. Click here to watch the full interview, which also includes commentary on the broader markets.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.