"I'm not convinced gold will see another pullback," Milling-Stanley said on CNBC's Halftime Report. "Frankly, I wouldn't risk waiting on this trade."
Gold prices could rally to $1,350 by year-end, according to Milling-Stanley. "A gold rally would be sustainable here," he said.
Milling-Stanley believes there are four factors that will drive gold's move higher: U.S. dollar strength, equity market moves, investors' appetite for risk, and continued absence of inflation.
—By CNBC Producer Bree Kelly. Follow her on Twitter @Bree_Kelly
Trader disclosure: On April 1, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Halftime Report" traders:
JIM LEBENTHAL: Long AAPL, BA, C, CSCO, DCO, DIS, EEQ, GAIA, GM, INTC, JCP, KMI, KMY, MPC, OA, ORBC, PFE, QCOM, QRVO, SPLS, TIF, TRN, TWX, WGO.
JOSH BROWN: Long AAPL, BABA, CORE, DE, DNKN, GE, JMBA, LNKD, SAM, SHAK, SPWR, TWTR, XLE
STEPHANIE LINK: Long AAPL, APC, AVGO, BAC, CB, CCL, COST, CRM, CSCO, CVX, DAL, DLPH, DOW, ESRX, GOOG, GOOGL, GS, HDS, HON, JPM, LOW, LPX, LRCX, LULU, MCD, MGM, MSFT, PF, PG, PH, PM, PPG, PRU, RTN, SLB, STI, SWK, SYF, UNH, UPS, URI, V, WBA, WBC, WFC, WHR
KOURTNEY RATLIFF: Long AAPL, FB, JPM, KO, LVMH, NKE, PG, WMT