Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

Gold's Beating May Be Nearing an End - Bloomberg Intelligence

It has been an awful summer for gold. And just when things could not get any worse for the yellow metal, prices dipped below $1,200 an ounce in early trading Monday morning -- a nearly 1.5-year low.

So does this mark the final leg down and the end of the pain for many gold investors?

“Someday, at some point, it will happen,” said Mike McGlone, commodity strategist for Bloomberg Intelligence in an interview on Friday. “Have we reached the point of maximum loss of faith? We may be pretty close,” McGlone added.