Gold prices are likely to end up higher by the end of the year, said Davis Hall, head of forex and precious metals private banking at Credit Agricole.
"Our view is that short term momentum can take it higher...(to) about $1,350 before year end," he said on CNBC, adding that investors should buy in on the dips due to the recent run-up in gold prices.
"Sentiment is so excessively bullish and the markets (are) very very well positioned. There hasn't really been a trade off for people to call positions in gold yet, but we are aimlessly waiting in vain for dips."