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2017 could prove to be gold's 'magic' year

Gold (Exchange: XAU=) might have lost 40 percent of its price over the last four years, capping a stellar 10-year bull run, but analysts are already predicting a possible bottom for the precious metal.

Many analysts like Sandy Jadeja, chief market strategist at Signal Pro, see more short-term bad news for bullion. But, he told CNBC this week that 2017 would be where he starts "stepping in" to add more to his portfolio.

"My view is that the equity markets will have really exhausted themselves (in 2017)," he said.

"I would expect the equity markets to come off (in 2017), people coming back (to gold) from a sentiment point of view, thinking maybe gold prices are so low right now maybe it's time to go back in and hedge on equities."

Jadeja said that $945 an ounce would prove to be a "very key target" in the next two years before the predicted buying.

URL: http://finance.yahoo.com/news/2017-could-p...-114405783.html