Tuesday, December 31, 2013
The Case for $1,000 Gold in 2014
Gold settles in 2013 with its largest percentage loss since 1981, and bears of the yellow metal say further declines are in store for 2014. Independent metals trader Eric Zuccarelli tells TheStreet's Joe Deaux that he wouldn't be a big buyer of gold until the precious metal hits $1,000 an ounce. At around $1,200 an ounce at current price, that would leave another $200 to the downside before Zuccarelli would be a buyer. For perspective, gold lost more than $450 in 2013.