Elliot Wave maven Robert Prechter is usually a dollar bull (despite being a gloomer), and as such he usually dislikes gold.
According to Reuters, Prechter is out with a new call on gold. Specifically, he expects it to fall 40%, saying the metal “is over-owned and overvalued and is about to resume a bear market, if [it] hasn’t already.”
Bonus: 23 new taxes being proposed by Obama >
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See Also:
- Global Investors Turn Platinum Over Gold
- David Einhorn Killed It In 2009, Made Huge Gains From CIT, And Is Still Bullish On Gold
- Market Jitters Have HAMMERED The Gold Bugs