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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » NOURIEL ROUBINI: 6 Reasons Why Gold Will Plunge To $1,000

NOURIEL ROUBINI: 6 Reasons Why Gold Will Plunge To $1,000

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sriranga

sriranga
Co-Admin

Gold has been getting poleaxed in recent months, though it remains just below $1400/oz.

In a piece up at Project Syndicate, economist Nouriel Roubini says gold will fall to around $1,000 before the end of 2015.

He gives 6 reasons why.

We summarize:
* Gold spikes during extreme crises. The crises are over.

* Gold does well during periods when there’s a risk of high inflation. That clearly is no longer a big worry, given how much central banks have unsuccessfully tried to stoke even modest inflation.

* Now with the economy recovering, nobody wants to be in rocks that don’t pay any dividends.

* Real interest rates are rising. That kills gold.

* Governments with debt issues are selling gold.

* Gold was juiced by right-wing fanatics in the US. That boom is over.


Read the whole column here —>
Source: http://au.businessinsider.com/roubini-gold-is-going-to-1000-2013-6

http://sharemarket-srilanka.blogspot.co.uk/

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