The Supply Shortage in the Gold Pits No One Is Talking About

The Supply Shortage in the Gold Pits No One Is Talking About

Is it just me, or are the banks, who’ve never really cared about the direction of gold bullion, turning outright negative on the precious metal?

• A research paper by Canadian Imperial Bank of Commerce (NYSE/CM), known as CIBC for short, said “Gold has been dented in recent quarters by an absence of inflation, greenback strength and investors’ rotation into stocks to capitalize on an expected pick-up in growth… As implied by our 2014-end target of $1,000 per ounce, we nonetheless continue to feel the metal still has further to fall in the next year or so.” (Source: CIBC, “Commodities: Warmer Growth to Heat Up Resources Next Year,” December 2, 2013.)  January 16, 2014 Read More

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