gold to fall below $300

  1. 470 Posts.
    YUP.... Good ol' Aussie experts tell it like it is!!!!! And we pay these people's salaries.....

    Gold price reaches five-year high

    The price of gold has jumped again, this time reaching a five-year high.

    Gold is trading at more than $US337 an ounce, after rising by about $4 overnight on the back of global uncertainty.

    But the latest jump is at odds with a prediction by the Australian Bureau of Agricultural and Resource Economics (ABARE) that the price of the precious metal will fall below $US300 an ounce next year.

    ABARE's Andrew Maurerr says fewer investors will turn to gold as a safe-haven asset.

    "With a bit of a rebound in world economic growth and we see a reduction in the war risk premium, we see investors moving out of gold and back into equity and derivatives and other currency markets and so forth...and that will remove a lot of the financial demand for gold," he said.

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