By Michelle Fox
Gold fell Tuesday and at least one expert thinks the precious metal is going to continue to move lower — at least for the next several months.
While one chart suggests prices could dip to $1,280, it "should go a lot lower than that," said Tom McClellan, editor of The McClellan Market Report newsletter.
That's because gold trades in an eight-year cycle — typically with three years up and five years down, he told CNBC's "Closing Bell" Tuesday.
"We're still working on the five years down from the 2011 to 2012 top, and that's due to bottom late this year, early next year," he said. However, after that, "2017 and 2018 should be a hugely bullish time for gold."
Gold fell Tuesday after Federal Reserve officials sounded a hawkish note on interest rates, boosting the dollar. Investors are now looking toward Friday's jobs report for further clues on the pace of rate hikes. The report is seen as a key measure of the strength of the labor market, which could bolster the case for a rate hike as early as September.