from Gold Silver Worlds:
Gold stabilized today in global trading in Asia, Europe and the US. It has been trading near $1,550 an ounce / €1,250 an ounce. After two successive days of what seemed to be a mechanical sell off in both gold and silver, a very significant support level has been reached. Time will tell if this support area for gold (between $1,515 and $1,550 an ounce) will hold. As for now, enough buyers have appeared to pick up the yellow metal at these prices.
In the midst of this gold price drop, Société Générale published a “special report” titled “The End Of The Gold Era.” The bank’s bearish case is documented in 26 pages. The analysis resulted in a gold price prediction of $1500/oz over 2013, and $1375/oz by the end of the year. It is worth taking the time to read through the document mainly to understand how a big financial institution looks at gold. That’s why we have added it to our public library and embedded it at the bottom of this article.
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