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Gold will bottom in 2014 before record-making rebound - Pecora

Posted on 02 April 2014

Gold prices will bottom in 2014 before returning to a record within five years as weaker equities spur demand for a haven and physical buying from Asia strengthens, according to asset manager Pecora Capital LLC.
Bullion may drop to about $1,160 an ounce this year as the dollar advances as much as 5 percent, Boca Raton, Florida-based Pecora said. U.S. stocks that reached an all-time high last month are overvalued and will probably retreat when the Federal Reserve ends stimulus. In that scenario, gold could initially slide as money flows toward cash investments, before rebounding, it said………………………….Full Article: Source


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