“Ben Davies, CEO of Hinde Capital, spoke to King World News yesterday giving his thoughts on where gold is headed next. He is somewhat bearish, saying gold could fall over 10 percent to around $1400 per ounce as Europe continues to muddle through its crisis.
Davies told King World News:
If you look at it on a relative basis, gold has maintained its purchasing power. It’s done exactly what it should be doing. Short-term I am concerned that we could be going down to $1,400. Yes, that’s a real risk in this environment…”
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