09.07.2013 - Gold correction is over, suggests Deutsche Bank, but Jim Rogers disagrees
Monday produced a lot of gold chatter. One of the standouts came from Deutsche Bank, which said the gold correction may just about be over. Gold has tumbled more than 30% from a September 2011 peak above $1,900 to under $1,300 presently. Gold was up about $20 on Monday, rebounding from a selloff late last week. A short-covering bounce and some safe-haven demand on Egypt unrest helped, says Kitco’s Jim Wyckoff. So here’s the Deutsche Bank rationale: There have been worse gold fallouts, such as that of 1980-81. During that time, gold hit a record $850, plunged to between $300 and $400 and stayed there for years before resuming its upward trend...............................................Full Article: Source
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