The Gold Report: Michael, in August you said $2,000/ounce (oz) gold would push up equity prices in 2013. Are you still of that mindset?
Michael Fowler: Yes, although it has taken longer than I expected. The U.S. dollar price of gold was up 6.2% in 2012, but the real increases in the gold price took place in other currencies. For example, in 2012 gold was up about 15% in the euro. The strengthening U.S. economy has been a headwind to gold. I remain bullish on gold and am keeping my $2,000/oz average for 2013.
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