Gold Bomb on the Horizon?
Volatility in spot gold prices is leading to some wide and varied predictions for the most popluar of the precious metals. Reading through many, many comments over the last few weeks leaves one wondering where gold and the other precious metals might be headed. No one has a supreme answer, but several traders are now expecting extended corrections for gold over the next few months.
Some are looking for spot gold to drop down to the $800 an ounce level by June or July at which point they can see lots of support. Here are links to a few of the more interesting predictions along these lines of thought:
From the Resource Investor site, a prediction by Interfax-China
From Jim Rogers of the Quantum Fund, a buying level