The price of gold will continue its current rally and eventually hit $2,000 a troy once over the next six to nine months, Alpesh Patel, principal at Praefinium Partners, told CNBC Friday.
"I've got some simple trades that I think in this markets are going to work quite well," he said.
Patel recommended investors position their portfolio for declines in the dollar , but gains in the price of gold. He warns that investors could get their "fingers burnt in the short-term" by betting on a falling dollar, but said that over the next six months it's set to win out.
"Another obvious one is long gold over the next six to nine months as it hits $2,000 an ounce," he said.
Patel said that the price of silver would also likely rise along with gold, but it was a more risky investment with potentially higher returns.
"With the S&P we're still looking for about another 10 percent rise by the end of the year," he said.
Patel added that the S&P could see weakness over the next week, but said that would only be a short-term setback.
"I'd rather be on the sidelines watching a potential selloff, but taking the view that by the end of the year we should be up another 10 percent on the S&P," he said.