JIM RICKARDS: Gold Is Destined For $7,000
PAUL TOSCANO, CNBC
JUN. 29, 2013
Emotion is overshadowing fundamentals in gold right now and several factors point to a long-term bullish move in the metal, two gold bulls told “Squawk on the Street” Thursday.
“It all depends on Fed policy,” said James Rickards, managing director at Tangent Capital, who expects deflation fears to outweigh the Fed’s desire to taper. Right now, he said, the fact that real rates are above inflation is a bearish signal for gold, and expectations of continued policy tightening is also pushing down prices.