Our target is $875 sometime in the third quarter of 2014.
$1201.30 up $7.70 last.
From Hightower via the CME:
Gold Transitioning from Currency Surrogate back to Classic Physical Commodity
The last 2 ½ years have not been good for the gold bulls, as consistent and sometimes violent declines in gold prices have injured sentiment and chased away potential investors. In our opinion, gold is in the midst of a transition from being a safe haven/currency surrogate instrument back into a classic physical commodity with a return to good old-fashioned supply/demand tightness. However, we do not think the transition will be easy or quick.
