As gold has rallied into the New Year, a break above $1,302 an ounce could be a bullish signal for gold, said Peter Hug, Global Trading Director at Kitco Metals.
"I'd like to see gold close above $1,302, I think that's an important technical level for me, and I think if it gets to $1,302, I think the $1,320s are definitely in the cards," Hug told Kitco News.