Juerg Kiener, managing director and chief investment officer (MD&CIO), Swiss Asia Capital sees gold topping USD 2,00o per ounce by next month. In an interview to CNBC-TV18, Kiener said, "We might see gold touching USD 2,000 per ounce by September itself. The international bullion banks are putting additional pressure. It signals to many people that getting your money back home or outside troubled Western Banks is key way to protect your wealth." Also Read: Soaring gold prices bring cheers, but tears too Below is the edited transcript of Kiener's interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying video. Q: Does it look like there is a big scale down coming in the second half of the year for crude or will it hold out? A: The big move has already happened. It looks like New York derivative price of energy is going to start finding its bottom despite gloomy economic outlook globally. Q: Is gold overheated or is it going to USD 2,000 per ounce, sooner than people expect? A: We might see gold touching USD 2,000 per ounce by September itself. We have seen recovery after a sell down, there was an aggressive margin increase in COMEX. The international bullion banks are putting additional pressure. It signals to many people around the world that getting your money back home or outside the troubled Western Banks is a key going forward in protecting your wealth. Q: Do you see any risks of a major correction in gold over the next few months because of any action from the US Fed or because of the speed at which it has gone up? A: We haven’t really fixed anything in a global system. The bank shares still look like they are going in for bankruptcy. Banks like Bank of America (BofA) have awful charts. On top of a economic slowdown, there is highly leveraged banking system. A drop of 5% in asset value basically means they have problems on sustainable business models. They are going to need liquidity, reliquification and recapitalisation, so it’s a solvency issue and in that environment gold will drive. Historically, normally 20% correction has been the norm for gold, we have done 15% in less than a week. So, it is not too far away from historic norms of corrections. We may have one more leg down and retest the lows seen last week. One knows that monetisation and QE3 is already happening behind closed doors looking at the action, demand, offtake and Bernanke saying that he is going to standby whenever there is going to be need for more liquidity infusion. Also, Buffett has given USD 6 billion to BofA to stay afloat at 6% rate. So, gold might not come down it might just shoot straight way up.

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