We might be a bit more bearish, $875 sometime in the second half of '14.
From Kitco:
Gold prices rallied recently on slightly weaker-than-expected U.S. economic data since early August and the potential for military intervention in Syria, but Goldman Sachs said Wednesday it sees the metal’s strength over $1,300 an ounce as unsustainable.Goldman has three- and six-month targets of $1,300 an ounce, for 12 months, $1,175.
“While the recent rally has brought prices above our near-term $1,300 (an ounce) forecast, we continue to expect that gold prices will decline into 2014 on the back of an acceleration in U.S. activity and a less accommodative monetary policy stance,” the bank said....MORE
If the Fed begins the taper with both treasuries and MBS' we could see $1250 right quick. Conversly a delay would bring in some buying from gold lovers, maybe $1450, just above the last high.
$1362.90 last.
