Capital Economics' Jessop: Gold Headed for $1,400 in 2014

Spot gold traded at $1,213.91 Thursday morning, down 28 percent so far in 2013.
"The consensus is that the price of gold will grind lower in 2014, at best, as the support from loose U.S. monetary policy gradually weakens," he says, according to CNBC. "In contrast, with investor sentiment already so heavily negative, our view is that the risks for the coming year are firmly skewed to the upside."
So why will gold rise?
First, while the Federal Reserve will begin tapering its bond buying next month, its policy stance remains quite stimulative, Jessop explains.
Second, financial turmoil is likely to revisit the eurozone next year, boosting gold as a safe haven, he adds.