Home > Boards > US Listed > Banking and Finance > Central Fund of Canada (CEF)

$CEF - Roubini still sees $1,000 gold

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Tommy Member Profile
Member Level 
Followed By 114
Posts 5,701
Boards Moderated 8
Alias Born 08/03/00
160x600 placeholder
Tommy Member Level  Tuesday, 07/30/13 08:18:52 AM
Re: Tommy post# 219
Post # of 243 
$CEF - Roubini still sees $1,000 gold

Cecilia Jamasmie | July 29, 2013


Economist Nouriel Roubini, who in 2005 warned of the US housing collapse, said Monday gold prices could fall toward $1,000 an ounce by 2015.

The cofounder and chairman of Roubini Global Economics, also known as Dr. Doom, told Index Universe the recent rebound in gold is only transitory. He estimates that from current levels, bullion prices may see another 25% to 30% correction.

Among the reasons Roubini quotes for saying the gold bubble has burst is the way they tend to spike when there are serious economic, financial and geopolitical risks in the global economy.

He also believes gold performs best when there is a risk of high inflation, as its popularity as a store of value increases.

Along with most analysts, Roubini will watch closely this week’s US Federal Open Market Committee meeting, as an official announcement of stimulus tapering would likely drive gold prices lower.

Gold futures climbed Monday for the second time in three sessions on signs of increased physical purchases.

Today is a Good Day to Trade - Good Fortune and Happy Trails -

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist