One expert is predicting $1,500 gold in the next 1-2 months due to strengthening demand in India and a potential non-tapering announcement from the US Federal Reserve. It is difficult to predict the timing of the gold breakout, but according to this expert, it is likely to be around the end of September or October.
Sep 10 2013
On August 22, I predicted the price of gold (GLD) could break out to $1,500 and higher over the next 1-2 months based on a number of factors; I pointed towards strengthening demand from India as their wedding season approaches and a potential non-tapering announcement from the US Federal Reserve.
At the time of writing, gold was around $1350 an ounce, as soon took off to $1420 just a week after. Since that time gold has taken a breather, pulling back to the $1365 - $1380 area.
I don't know the exact period of time when gold will breakout and anyone who thinks they can predict the precise moment is kidding themselves. However, I think there is a strong possibility that we could see the next breakout in gold either by the end of September or in October, for a couple of reasons.
Here I will give updates on some recent developments since the original article was published, because a lot has happened in that short term.
To see original article CLICK HERE