Gold may hit $1,500/Oz by end of September
Global Scrap News | 2013-08-29 13:30:45
John Person, president of NationalFutures.com, sees potential for gold to hit $1,500 an ounce by the end of September, a month when the market tends to be seasonally strong.
By Paul Ploumis
NEW YORK (Scrap Monster): John Person, president of NationalFutures.com, sees potential for gold to hit $1,500 an ounce by the end of September, a month when the market tends to be seasonally strong.
"We still have not eliminated quantitative easing (or) money printing,” Person said, also citing potential for inflation with higher energy and food costs. While gold has fallen since the peak in 2011, the metal has held onto the majority of its gains from the last decade.
"There will be glitches (for gold) along the way. But I think gold has a very strong possibility of hitting $1,500 by the end of September, especially if we see more unrest in the Middle East and if we see more uneasiness with the U.S. equity market and doubtful economic conditions here and abroad," he concluded.
