$1,700 Gold Is On The Horizon, Says Analyst

A potential correction in the equities market, coupled with rising U.S. debt levels, will play in gold’s favor, said Jay Taylor of J. Taylor’s Gold, Energy & Tech Stocks. “I think we need to get through $1,350, $1,360 [an ounce], and then the first major target that I see, and I’m not sure of the timing, I think we’re looking at $1,700,” Taylor told Kitco News on the sidelines of the Metals Investor Forum in Toronto. Taylor noted that this target is unlikely to be met this year, adding a one to two year time horizon.

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