Sat, Dec 20, 2014
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Bullion/Gold, Trends more

Gold’s worst days are coming

Posted on 18 September 2013

Up until last year, gold prices rose for at least 11 years in a row. The precious metal spawned a frenzy among everyone from gold bugs to politicos who think America should return to the gold standard. But today they’re likely feeling nervous. Gold prices have entered bear market territory, having fallen by 22% this year.
And it’s going to get worse as investors zero in on whether the U.S. Federal Reserve will scale down its stimulus program, called quantitative easing. Goldman Sachs (GS) analysts say gold will continue dropping into 2014, possibly falling below $1,000 an ounce, a level not seen since early 2009. This is a reverse from gold’s steady rise from $800 an ounce in early 2009 to more than $1,900 in the fall of 2011; on Tuesday morning, it was trading at $1,314.50 in New York………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38538 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
S M T W T F S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031