CNBC: Gold bugs: Time for 'ugly duckling' (bullion) to shine

The recent rebound in gold prices has injected bullishness back in the market, as gold bugs call for further gains in the months ahead, with one analyst expecting bullion to hit $1,600 per ounce by year end.

David Lennox, resources analyst at equity research firm Fat Prophets, told CNBC he's not ruling out another 20 percent upside for gold by December, as the expected robust recovery in the U.S. economy remains elusive.

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