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