Van Eck Global: Gold to $1,500 by year end

Joe Foster, Van Eck Global portfolio manager, talks to Daniela Cambone of Kitco News about the current state of the precious metals markets. Foster is bullish on gold and expects the markets to act better by fall.

Regarding the mining industry, Foster says it is a buying opportunity for mining stocks. What is his outlook for gold? “Gold will move towards $1,500 an ounce by year end or early 2014,” he said.