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An employee arranges one kilogram gold bullion at the Perth Mint refinery in Perth, Australia on August 9, 2018.
Carla Gottgens | Bloomberg | Getty Images
Gold prices may continue to rise even after reaching a multi-year high last week, a global investment strategist announced Monday.
In fact, prices should "reach $ 2,000 by the end of the year," predicts David Roche, president and global strategist of the Independent Strategy, based in London.
Spot gold prices reached $ 1,422.85 on June 25, their highest level in more than six years. Last week, gold futures also reached their highest level since August 2013, reaching $ 1,417.70.
Gold prices have seen an upward trend in the face of recent expectations of a reduction in the Federal Reserve's interest rates and heightened geopolitical concerns – conditions that could weigh on the market. fellow, according to Roche.
"I actually think the financial markets are about to collapse like a pile of sand," he told "Squawk Box".
However, gold prices fell slightly on Monday, which could be a reaction to the announcement Friday by the United States to have recorded a non-agricultural payroll stronger than expected. This report tempered investors' expectations of Fed rate cuts.
Despite this, Roche 's projected gold prices would continue to rise, in part because international trade tensions would reinforce the negative sentiment of stock market investors.
"I think the trade dispute with the United States is a much larger and wider global conflict that will undermine growth expectations in equity markets," he said.
Given these prospects, Roche recommended investors to hold gold in their portfolios, along with some European fixed income securities and US treasury bills.
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