G'day warnie
I said I’d like to go short gold within a 6 to 12 month range.
I can see gold holding up for a while, not sure how long though. IMO it depends on 2 main things: the general state of the markets and how long it takes for deflationary pressures to come into force. I can already hear arguments about gold will still remain a safe haven and the demand equation etc but these two factors alone will not be enough to stop gold from falling. I have no idea where gold will be in 1 or 2 years time but I think it will be somewhere between US $700 - US$400 an ounce.
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Mark Waller, MD
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