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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

SocGen: Gold is going to tank to $1,375 this year

Posted on 22 March 2013

Over the last 20-years, gold has shown zero correlation with stocks and bonds, and had therefore become a favorite in terms of diversifying the portfolio, according to Societe Generale. But SocGen analysts Alain Bokobza and Roland Kaloyan think “The Gold Rush Is Over”.
Gold is well off it’s 52-week high of $1,802. And the analysts expects gold to fall 15 percent from its spot price to $1,375 per ounce by year end. This is more bearish than the consensus view which is 30 percent above SocGen’s, with a forecast of $1,750 per ounce………………………………………..Full Article: Source


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