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

Gold prices could tumble further — Duke Professor

Posted on 28 June 2013

Gold prices fell to roughly $1,220 an ounce Wednesday, nearly a three-year low, and further downside may be possible for the metal. That downside could be a longer-term move for gold, too, as the metal may be moving back to its fair value, according to Campbell Harvey, professor at Duke University’s Fuqua School of Business, who has done academic research regarding the value of gold.
Harvey’s research puts the long-term fair value of gold at $800 an ounce, which is about $400 an ounce lower than current prices. Fair value is “an average, so to get to the average, there are prices above and below it. We’ve been above it for a number of years,” Harvey told Kitco News………………………………………..Full Article: Source


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