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"Gold Bullion can go well past $2,000," Shelter Harbor exec tells CNBC - Wealth Management

March 18,2013

Brian Kelly of Shelter Harbor Capital has other reasons to like gold.

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"The reason why you buy gold is the currency debasement play," Brian Kelly of Shelter Harbor Capital told CNBC's Amanda Drury. "Every central bank in the word is debasing the currency, and every central bank is actually buying gold again," he said. Interest rates are really beside the point, he added, and he said he expects gold to move higher. "You have central banks sopping this up."

How high could gold rise?

Kelly said he expects "gold can go well past $2,000 an ounce." It won't be anytime soon, he said, but "what the central banks have been doing has been done in the past. It's never ended well. That's the gold trade. And if it happens that way, gold goes well north of $2,000."

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