Mineweb reported that CPM Group’s Jeffrey Christian believes gold may hit $1,320 in February or March and could rise as high as $1,900 in the next eight to 10 years.
Christian accurately predicted gold’s January high “almost to the dollar at $1,280.”
As quoted in the market news:
So overall this is a pretty sober assessment of where gold is headed short and long term. Dollar strength will perhaps remain important and should the Fed continue with its tapering programme then this will suggest continuing growth in the U.S. economy which could be seen as positive for the dollar, but negative for gold. But emerging market economies seem to be taking a big knock over worries about the taper and these will likely accelerate if it continues, so in their currency terms gold could still rise strongly even if it is not doing so in the U.S. dollar. But then serious turmoil in the emerging markets could have a positive impact on the dollar gold price too.