Gavekal Capital: Gold at an Important Crossroad

Tuesday, December 3, 2013

Gold at an Important Crossroad

Gold has had a rough go over the last month, dropping about $100, and it now finds itself testing the low it made in June. There are many possible taper and non-taper explanations for this persistent weakness. We just note here that a decisive break of the June low (about $10 lower than the current price) could be accompanied by a flurry of deflationary worries.