Gold Bullion could hit "$1,800 in the next 12 months," says ECU CEO - Wealth Managers

British currency firm sees "long-term bull trend" resuming in 2014

Gold is headed for a price rebound in 2014, maybe by as much as 40%, ECU Group chief executive Antony John toldFE Trustnet in an interview posted Nov. 25.

The financial markets are peaking and global macroeconomic weakness is likely to re-emerge in 2014, setting the stage for gold's resurgence, he predicted.

"It's a natural hedge against the world situation and we are likely to see a long-term bull trend," he said. "We could see $1,800 [an ounce] in the next 12 months."

China also is key to gold's future, he noted, especially as its emerging middle class continues to grow.

"The rhetoric [of the government] can mean you are going to get volatility, so as China develops, their love affair with gold will increase," he said.

China's plans to increase the renminbi's role as a global currency also makes gold important.

"The Chinese government are continuing to buy huge resources of gold and could be creating their own gold standard for their own currency," he said. "They will say, 'Our currency is backed by physical gold so the rate should naturally be higher.'" h

The eurozone also will re-enter full-blown crisis mode and is likely to have a dampening effect on markets, he predicted.

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