| Gold bulls won’t like it much, but the odds of the gold price sinking towards US$1,000 an ounce or even lower are growing. After hitting a high of around US$1,384 an ounce just a few months ago, the gold price has dropped to US$1,260 an ounce, including the biggest weekly fall in more than three years.
And it’s all got to do with signs of improvement in the US economy. According to Bloomberg, a resilient jobs market and gains for the service economy have signalled that expansion can continue even if rates rise. It also means there’s little need for investors to invest in safe-haven assets like gold..............................................Full Article: Source
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