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Gold will be knocking at $2,000 this year, Motley Fool analyst predicts - Wealth Managers

January 09,2013


"Don't be duped by the hawkish chatter" about Fed, says Christopher Barker

Don't be duped by the hawkish chatter! The decision taken just a few weeks ago by the Federal Open Market Committee (FOMC) -- to embark upon a fourth round of quantitative easing ("QE") with open-ended asset purchases totaling $85 billion per month -- resulted from a nearly unanimous vote. Richmond Fed President Jeffrey Lacker provided the sole dissenting vote. ...

Based upon my continuous analysis of gold supply and demand fundamentals, the compelling technical picture as interpreted by legends of their trade like Louise Yamada, and my own assessment of some of the more likely macroeconomic and monetary policy scenarios before us, I am resolute in my expectation of another strong showing for gold during 2013. While this rough start to the year may extend the ongoing correction a bit further in chronological terms, I see gold regaining its footing by about the second quarter, and then securing a meaningful breakout during the second half of the year. Conservatively, I project that 2013 will see the gold price at least knocking on the door of my long-anticipated $2,000 mark, while any number of reasonable scenarios could be seen carrying the monetary metal substantially higher. That outlook implies at least a 20% advance for gold.



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