Gold prices can push through $1,800 as the Fed is in no hurry to raise interest rates

(Kitco News) - The gold market is once again in striking distance of $1,800. New momentum could propel it higher as markets could readjust their expectations regarding potential interest rate hikes from the Federal Reserve.

George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that since June, investors and markets have been too aggressive when it comes to price in potential interest rate hikes.

"Federal Reserve Chair Jerome Powell made it very clear Wednesday that there is absolutely no link between reducing the balance sheet and potential interest rate hikes," he said.