Gold Could Dip Below $800/Ounce, According to Historical Data

CNBC reported that, according to historical data on price performance, gold could actually dip below $800/ounce in the long term.

As quoted in the market report:

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 $800 an ounce.

To view the whole CNBC report, click here.