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Citi: Gold weakness to continue through year-end

  • Gold got a "short-term reprieve" by the postponement of the taper, says Citi's Ed Morse and Heath Jansen, but it's just a reprieve. The unemployment rate continues to grind downwards to the Fed's target level, and Bernanke made clear there's no pre-set time-table for the taper, and a "major policy change" could come at any meeting.
  • The two see gold falling back below $1,250 by year's end. Way ahead of the analyst team, gold has already given back its post-Fed pop, and is off another 0.8% today to $1,321 per ounce.
Comments (9)
  • These analysts seem to be at the level of reading tea leaves. It's great people have jobs spinning yarns. I guess people love to pay for entertainment.
    23 Sep 2013, 03:33 PM Reply Like
  • What nonsense! There will be no meaningful or lasting taper unless they decide it is time to crash the economy. Keep printing and manipulating - eventually reality will return and gold will be much more valuable than paper.
    23 Sep 2013, 03:33 PM Reply Like
  • I am tired of these investment banks that want you to buy netflix and linkedin everyday and constantly tell you to sell gold.
    23 Sep 2013, 04:03 PM Reply Like
  • How the hell are we supposed to believe or trust anything these banksters have to say ?
    23 Sep 2013, 04:18 PM Reply Like
  • Who is going to lend this country money when the FED stops printing it to finance the government's follies? The Chinese are net sellers of treasuries, the Middle East hates us, Europe is bankrupt, Asia is more and more insular - who is left, the penguins of Antarctica? The war on retired folks and savers has too many casualties to put up with a law requiring citizens to buy treasuries paying nothing. Geez, I picked a bad year to quit sniffing glue!
    23 Sep 2013, 04:47 PM Reply Like
  • Sell the miners too. GDX is headed South.
    23 Sep 2013, 05:09 PM Reply Like
  • I get it now. Gold does not pay them for banking business like Green Mountain and Groupon does.
    23 Sep 2013, 07:30 PM Reply Like
  • Argentum et aurum comparenda sunt
    24 Sep 2013, 12:46 AM Reply Like
  • The real story:
    24 Sep 2013, 12:30 PM Reply Like
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