The Fed’s dovish position is likely to send gold several hundred dollars an ounce higher in six months, this according to Todd Gordon, founder of TradingAnalysis.com. “I don’t think this is the birth of a new gold market. I do see upside though, into the $1,500s, $1,600s, potentially $1,700 but unfortunately I think at that point the Fed is going to start to reverse course, forced to get a little more hawkish, and I think that might choke off gold’s rally,” Gordon told Kitco News.
