By Michelle Fox
While gold is on a tear higher right now, that will soon change, the founder of OptionSellers.com predicted Wednesday.
That's because gold is acting as a currency and once the "hysteria slows," it will return to acting like a commodity, James Cordier told CNBC's "Closing Bell."
"Later this year, we think … prices of commodities and inflation are going to be down, and that's when gold is going to return to being a commodity."
Right now gold is an "extremely crowded trade," he said.
He expects it to drop down to $1,200–$1,250 by the end of the year, "after a lot of investors probably see that it's a tighter market."