SaxoTV

Why gold could drop another 25%

1,170 views
July 23, 2015 asia, asia gold, asia price drop, business, buying gold, china, china gold, commodities, content, europe gold, fed, finance, fomc, forex, fx, gold, gold asia, gold chinese, gold demand, gold dollar, gold drop, gold markets, gold predictions, gold price, gold price drop, gold shock, gold trade, gold trading, hedge funds gold, highest gold price, interest rates, july, july gold, lowest gold price, market, markets, monday, news, news content, news video, owen thomas, precious metals, precious metals prices, saxo, saxo bank, saxo tv, selling gold, silver, spotlight ideas, stephen pope, strong dollar, trading, trading gold, tradingfloor.com, us fed, us federal reserve, video, video content, weak dollar, why did gold fall, xau, xaueur, xauusd
It won't take much for gold to fall to as low as $850 / ounce by the end of the year. That's according to trader, Stephen Pope, the MD of Spotlight Ideas. There was shock in the markets on Monday when the precious metal fell four percent in once session. It's made up some of that in the past few days.
Gold has been dragged down by expectations that the US Federal Reserves will raise rates later this year and by a higher dollar. Stephen says even though it looks cheap, you'd have to be very brave to buy gold right now. He believes it won't take much for it to fall much further still.