Initially, gold was way down because of no progress on fiscal-cliff
negotiations, potentially causing austerity measures to kick in and curb
government spending.
Now, gold is way down because of hope that a fiscal-cliff deal will be reached, enabling government spending to continue and improve economic growth.
Jim rogers apparently hedged his long gold position.
Source:http://www.moneycontrol.com/news/commodities/even-gold-bull-jim-rogers-is-turning-cautious_797539.html
Now, gold is way down because of hope that a fiscal-cliff deal will be reached, enabling government spending to continue and improve economic growth.
Jim rogers apparently hedged his long gold position.
Source:http://www.moneycontrol.com/news/commodities/even-gold-bull-jim-rogers-is-turning-cautious_797539.html
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