Gold is on course to head as high as $1,500 per ounce, according to a technical analyst, who says the current environment will disrupt the usual inverse relationship between the U.S. dollar and the precious metal.
According to Ron William, Founder & Principal Market Strategist at RW Market Advisory, the impending presidential election will create an anomaly to normal market moves as investors pull back from risk exposure around the November 8 vote.
"Traditionally yes, the inverse correlation has always been there. But there are exceptions and I think this is when it depends on the timing of the move, but also the cause. In this case it will be more of a safe haven flow argument, the U.S. dollar in particular, given what might happen around the election cycle," he told CNBC's Squawk Box Europe.