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[video] Quick Take: Fed Puts Gold Bugs Back in Game

NEW YORK ( TheStreet) -- With the Federal Reserve's decision not to taper its asset purchases, gold is getting a nice boost.

Telling TheStreet's Gregg Greenberg his take on the yellow metal is Christopher Blasi, president of Neptune Global Holdings.

Gold prices are near $1,370 an ounce, and Blasi said the Fed is helping the metal's long-term move higher, after suffering a nasty correction earlier this year. Investors can gain exposure to gold by purchasing the SPDR Gold Trust (GLD).

Blasi also said the metal should be substantially higher in two to three years but may have some downward pressure in the next three to four months.

Ultimately, when central banks print money, they weaken a nation's currency strength, subsequently weakening the purchasing power for assets such as gold. That means more money is required to buy the same amount of something -- for instance, an ounce of gold.

However, Blasi said he expects that the U.S. dollar will get a bounce soon, which will put downward pressure on the precious metal. Overall, though, he expects gold to be just fine over the long haul.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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