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Commodities Briefing - Categorized | Bullion/Gold, Price Watch, Research more

Gold to top $1,800 by November before drop, FX Concepts says

Posted on 20 October 2011

Gold may climb to $1,800 an ounce next month before sliding as commodities drop and some investors sell to cover losses in other assets, said John Taylor, founder of FX Concepts LLC, the world’s largest currency hedge fund.
The metal may reach between $1,750 and $1,800 by late November, said Taylor, who in July correctly predicted that bullion would touch $1,900 an ounce by this month. Prices may then slide to between $1,000 and $1,200 by April or May, where it would be a “big buy,” he said……………………………………….Full Article: Source


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