Gold prices were always going to fall yesterday

Jordan Eliseo

The Perth Mint

Gold prices were always going to fall yesterday. Anytime you see a headline like A Cant Lose Situation for Gold (there was an article online yesterday with that very title) you know it's due a pullback, a logic that could pretty much be applied to any asset class. Equities were due a bounce too, although the majority of the data out of the US was poor, with the 'lets blame the weather' excuse starting to get a little tired. GDP numbers were admittedly in line with expectations, and some of the subcomponents were encouraging, but its hard to look at questionable job growth, generally tepid data, low official inflation and not get the feeling that the taper is not going to run to schedule, and hit zero by H2 2014

Gold bull since early 2000. Have spent +20yrs working in investment analytics, research & portfolio construction. Author of two books on investing in gold and the causes of the GFC. Lover of markets, competition & technology

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