The world is crazy and the dollar is lower. Gold is above $1,400 for first time in years

CNN Business--"Gold bugs are finally having a moment. The price of gold topped $1,400 an ounce Friday. That's the highest level since September 2013. The price of gold is now up nearly 10% this year. Gold has gained momentum thanks to expectations of a rate cut by the Federal Reserve as soon as next month. Rate cut hopes have helped push the dollar lower - and gold tends to rally when the dollar gets weaker because that makes it more attractive to foreign buyers. 'Gold, the anti-dollar, is on fire,' noted Kit Juckes, global fixed income strategist at Societe Generale, in a report after the Fed meeting this week. The continued drama surrounding trade talks between the United States and China is helping push gold higher too. Unless US President Donald Trump and Chinese President Xi Jinping come to a deal at next week's G20 meeting in Osaka, Japan, gold prices could keep climbing - especially since the market doesn't expect the Fed to do anything that would push the dollar higher. 'Gold has historically been a pocket of strength in periods where uncertainty increases sharply,' said CFRA investment strategist Lindsey Bell in a report this week. Bell added that gold is 'a smart and defensive way to diversify a portfolio in the later innings of a bull market for which uncertainties have increased.'"