by Jan Skoyles, TheRealAsset.co.uk
‘This could be the beginning of the end for the market bubble,’ so read Allister Heath’s column in this morning’s CityAM. Yesterday market turmoil followed the US’s upgrade to ‘stable’ and Japan’s decision to take the foot off the easing pedal.
The gold price fell 0.72% yesterday as the markets appear to be focussing all of their attention on the US QE decision, as Bloomberg said this morning ‘the market is fixated on the Fed’. For gold, which also fell yesterday, China’s holiday leaves little support for the current gold price.
In a report released earlier Goldman Sachs say that they expect to see gold trading at $1,345 over the next 12 months.
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