Gold will hit at least $3000 per ounce before the current rally ends says Tice, Federated's chief portfolio strategist for bear markets. The forecast falls roughly in between Peter Schiff's $5000 per ounce call and Jimmy Rogers' forecast of $2000.
With gold hitting yet another new high of $1064 Tuesday and bullish sentiment for the metal soaring, Tice is wary about the potential for a short-term reversal in the dollar down-gold up trend.
"We certainly could have a pullback," he says. "However, we believe this rally in gold is going to on for a long time." (more)