Leading New York analysts predict huge 2013 gains for gold
Leading New York analysts made bold predictions for gold in the new year.
Senior market strategist Bill Baruch, from iiTrader.com, was confident about prices rising.
In an interview with Bloomberg TV, Baruch said, "… I think this is going to be a great buying opportunity going forward for 2013. I have huge expectations. I think Quarter 1 we're going to see the market test $1,800."
He also said, "I want to see this market get above $1700. If it gets above 1700, I think the momentum will come and people will be buying as the market moves."
In the same clip, Bloomberg spoke with Jim Rickards, senior managing director for Tangent Capital Partners, who was also certain of increased prices.
Rickards said, "Fundamentally, this [gold] is going to go up because of all the money printing."
Even with a 12-year run for gold, he sees no decline in the future.
"Just because it's [gold] had a good run, doesn't mean it can't go up higher. In fact, I'm quite sure it will go a lot higher."
For the full interview, see Bloomberg TV.