Gold

Gold  may climb to $1,800 an ounce next month before sliding as commodities drop and some investors sell to cover losses in other assets, said John Taylor , founder of FX Concepts LLC, the world’s largest currency hedge fund.The metal may reach between $1,750 and $1,800 by late November, said Taylor, who in July correctly predicted that bullion would touch $1,900 an ounce by this month. Prices may then slide to between $1,000 and $1,200 by April or May, where it would be a “big buy,” he said. Gold set a record $1,921.15 on Sept. 6 and has outperformed commodities, global equities and Treasuries this year. November “looks to us like a cyclical high for risk and for us that would be almost a perfect time for gold to have its cycle peak,” Taylor, whose firm manages about $5 billion, said today in an interview in London. “Then it’s going to be weak after that. That sort of fits in with our forecast which is really negative for the economy  next year.” Gold is in the 11th year of a bull market, the longest winning streak since at least 1920 in London, as investors sought to diversify away from equities and some currencies .Bullion held through exchange-traded products totals more than the holdings of all but four central banks, which are adding to reserves for the first time in a generation.

Please see the attached chart below.