Gold will rally to record highs this summer, Women's Investment Network chief predicts - Wealth Management

"Over the summer we're going to hit the debt-ceiling crisis," Women's Investment Network CEO Natalie Pace says in a May 29 Fox Business interview predicting a summer rebound -- to $1,600 by August -- for gold. 

"We're going to have a horrible GDP report. It's predicted to be 1.4% this year, according to CBO. And we also have a potential debt downgrade, and I think that's going to make investors scared of Wall Street and they'll start falling back in love with gold. ...

"Gold went to its high after our downgrade (by Standard and Poor's in August 2011). ... I predict that will happen again. So gold is an emotional investment. When people believe in Wall Street, they're in Wall Street. When they don't, they're in gold. ...

"The first thing that'll happen is people will fall out of love with Wall Street once we get that horrible GDP report and once the debt-ceiling crisis becomes headlines. We've already breached the debt ceiling. No one's talking about it, but they will when we stop paying our bills and that's Labor Day. And Fitch could downgrade us in there too -- that's a triple whammy. So I think that's the first level that will send us back to the highs of $1,900. Once interest rates start to creep us -- that probably won't happen this year -- we could go much higher." 

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