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Gold Rally Could Reach $1,400: CEO

2:20 AM ET Wed, 18 Nov 2009

Investors are moving out of paper gold and into physical gold due to increased risk aversion, James Turk, chairman and founder of GoldMoney, told CNBC Wednesday. "In this current run I think you're going to see 1,200 to 1,400 (dollars per troy ounce) by the end of this year and next year I think it's going to continue," he said.