GoldFor every negative remark there is a positive one. I don't know if this is a positive one but this article let us believe gold will rebounce from its dip at this moment:
Gold bulls agree: Price headed for anywhere from $2,400 to $7,000
July 1, 2013
Jim Rickards and Tom McClellan tell CNBC the case for higher bullion still exists
Emotion is overshadowing fundamentals in gold right now and several factors point to a long-term bullish move in the metal, two gold bulls told "Squawk on the Street" Thursday.
"It all depends on Fed policy," said James Rickards, managing director at Tangent Capital, who expects deflation fears to outweigh the Fed's desire to taper. Right now, he said, the fact that real rates are above inflation is a bearish signal for gold, and expectations of continued policy tightening is also pushing down prices. ...
Tom McClellan, editor of the McClellan Market Report newsletter, is also bullish on gold, comparing the technical level of the commodity to the 2009 bottom in the stock market.
"It's the same emotional play that's going on, people falling out of love with stocks back then, people falling out of love with gold now," McClellan said. "We're reaching the climax point equivalent for the March 2009 low for the stock market."
"It's a hugely bullish condition for gold and I'm expecting a really large rebound," he said.
Rickards said that the destination for gold is $7,000 per ounce, although tightening of Fed policy could drive it down to $1,000 on the way there. McClellan's target is between $2,800 and $4,400.
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