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  1. #1
    Junior Member

    History Shows Gold Could Fall Another $500/oz !!!

    A slowdown in growth in China, as evidenced in data released on Monday which showed that growth had slowed to 7.5 percent, was one potential indicator of lower gold demand.

    The price of gold could fall below USD 800 an ounce over a long-term horizon, a drop of some USD 500 from its current level of USD 1,294 an ounce, Duke University's Campbell Harvey told CNBC on Monday.

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    Harvey, who works at Duke University's Fuqua School of Business, said that over 2,500 years of history, the real price of gold (the nominal price adjusted for inflation) had remained roughly the same.

    "Right now we're way above the mean," Harvey said, suggesting that the price of gold would correct over the long-term to approximately USD 800 an ounce.

    "If you look historically, it doesn't just go down to the average and stay there. It actually goes through and falls below, then comes back up," he said.

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  2. #2
    Legendry Member milos's Avatar
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    The price of gold fell on the third day in a row amid concern that last month;s price increase could threaten the physical sale of this precious metal.Investor are still trying to assess and predict the future actions of the Federal Reserve when it comes to the end of the bond buying program.For tomorrow's afternoon scheduled speech Federal Reserve Chairman Ben Bernanke's which could cause changes in the market.Today's the gold price increase 0.50%.
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    1327 resistance
    1298 resistance
    1284 last
    1267 pivot points
    1247 support
    1232 support

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