Gold To $1,200/oz, Price drop in mid-April was the beginning of the deflation of a bubble: SocGen

Gold is in a “bubble” after the best annual run in at least nine decades and will head into a so-called bear market as a stronger U.S. economy helps increase interest rates and cut bullion demand, Societe Generale SA (OTCMKTS:SCGLY) (EPA:GLE) said. On 2 April, Societe Generale SA (OTCMKTS:SCGLY) (EPA:GLE) released special report “The end of the gold era” in which they forecast that  gold would  fall  to  $1375/oz  by  the  end  of  2013.  The  price  at  the  time  of  publication  was $1600/oz. Within two weeks of publication prices reached $1360/oz. So prices fell below their target, but simply faster than they…