Precious Metals

The Gold Report reports that Pinetree Capital corporate spokesperson, Marshall Auerback, believes U.S. government should focus primarily on reducing unemployment. He also predicts the gold price is likely to remain between $1,100 and $1,400 an oun

The Gold Report reports that Pinetree Capital corporate spokesperson, Marshall Auerback, believes U.S. government should focus primarily on reducing unemployment. He also predicts the gold price is likely to remain between $1,100 and $1,400 an ounce in 2011.

The editorial is quoted as saying:

I think the gold price is actually going to be rangebound this year. Ultimately, I can see it going much higher because I think the response to these crises will be the creation of yet another financial bubble, which would enhance the value of gold. But right now, we’re in this benign spot wherein we’ve got inflation, which looks to be under control, and the Eurozone doesn’t look like it’s about to blow up. It wouldn’t surprise me if gold fell back to the $1,100 level and consolidated for awhile before it took off again. These things never go in a straight line.

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