After hitting highs last seen six years ago, is the gold market taking a pause? The precious metal declined nearly 1% to $1,409 after hitting highs last seen in 2013. “In my 45 years in the business, I have never been more uncertain. As readers of my commentary know, I have been very constructive on gold since the $1,280 low some months ago. I suggested that by summer the dollar would come under pressure because I was of the opinion the Fed would not raise rates in 2019, and were more likely to lower rates beginning in the summer,” Peter Hug, global trading director said on Wednesday.