After bouncing off a more than 6 month low in yesterday’s trading session gold has continued to drift higher today, and some say for the precious metal to make any really significant gains the US Federal Reserve will have to reign in their hawkish stance.

Gold has failed to capitalize as a safe haven on recent world events such as the uncertainties surrounding Brexit, as well as the trade wars brewing between the US and China, which has left investors, scratching their heads and pondering over what will it take to push prices higher.

One analyst believes that gold’s tradition support base such as political instability or higher inflation are on the backburner for the moment and only the US central bank can help push prices significantly higher if they back off their determination to keep raising interest rates.

He also said that a continuation of the stimulus programs in Japan and the EU currently underway could also support the price.

 “I think what ultimately drives gold higher will be the Fed pausing and then the market pausing in the Fed easing. And so if the Fed is easing while the ECB European Central Bank is printing and the Bank of Japan is printing then I think gold will do really well.” Noted Chris Mancini, research analyst at Gabelli Funds.

“I think what gets gold to really move will be a view that the economy is going to slow and the Fed is going to halt its tightening cycle,” he added.