Gold prices are expected to shrug off a pullback after a rally last week that peaked at a multi-year high as investors anticipate financial markets collapsing like a sand pile by the end of the year, a global investment strategist said.

David Roche, president and global strategist at London-based Independent Strategy, said spot prices could rally to $2,000 by the end of the year after crossing the significant $1,400 level last week. Gold futures also rose to their highest in six years.

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Gold, seen as a safe-haven asset for fearful investors, is expected to gain from a confluence of economic and geopolitical events that could weaken the dollar.

This includes high possibilities that the Fed and the European Central Bank would start easing their policies to counter a global economic slowdown.

“I actually believe financial markets are now poised to crumble like a sand pile,” Roche told CNBC’s Squawk Box.

“I think the trade conflict with the United States is a much far, wider-reaching, global conflict, which will undermine growth expectations in equity markets,” he added.

The gold futures hit a high of $1,442.9 last week — the highest since May 2013 — before paring some gains on the back of profit-taking. Gold is up 9 percent so far this month, coming near to the best monthly performance of 10.57 percent in February 2016.