Gold could test a high of $2,100 per ounce in the coming year, according to David Lennox of Fat Prophets.
"We do think across the course of 2022, we will see the gold price testing at the all-time record highs, but we can't see it traveling much beyond that once it gets there," he said.
Gold prices closed at a record $2,063 in August 2020, according to data provider Eikon. It was trading at about $1,814 per ounce on Wednesday morning in Asia. Lennox said it looks like everything is in place for the U.S. dollar to decline, though it hasn't happened yet. If the greenback weakens, it would be a"boon" for gold, he added.
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