Gold slipping in the wake of the Fed's even easier policies doesn't surprise Uri Landesman, who sees a dramatic correction ahead. The metal performs best as a "flight to quality," he argues, and the Fed moves take that bid away. His downside target next year is $1,400/oz. [View news story]
Gold will continue upwards for another decade or two because the U.S. will not be able to pay the 84 Trillion in liabilities we owe.
Comex gold finished with sharp losses, -1.6% to $1,670.70/oz. and its lowest settlement since Aug. 30, and futures continue to spiral lower, down ~2% at $1,664. The usual reasons are cited - expectations of a fiscal cliff resolution, a drop in the U.S. current account deficit, rising homebuilder confidence - but gold has been losing out in a recent trend toward riskier assets. [View news story]
Gold slipping in the wake of the Fed's even easier policies doesn't surprise Uri Landesman, who sees a dramatic correction ahead. The metal performs best as a "flight to quality," he argues, and the Fed moves take that bid away. His downside target next year is $1,400/oz. [View news story]
Comex gold finished with sharp losses, -1.6% to $1,670.70/oz. and its lowest settlement since Aug. 30, and futures continue to spiral lower, down ~2% at $1,664. The usual reasons are cited - expectations of a fiscal cliff resolution, a drop in the U.S. current account deficit, rising homebuilder confidence - but gold has been losing out in a recent trend toward riskier assets. [View news story]