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Société Générale Predicts Gold Crash to 1,375 $

Société Générale has recently released a report called "The End of the Gold Era". In it, they are predicting a gold price decline to 1,375 $ by the end of the year.

The report takes account of multiple major factors that influence the global economy and in addition, they also expect an increase in gold mine supply in 2013 and 2014.

Gold ETF gold withdrawals are also expected, which could decrease gold's price.

You might want to check this Business Insider article, which containes a detailed table of probable scenarios that could influence gold's price in 2013 and 2014. Additionally, this page gives further details about the 27-page SocGen report.

Previously in October 2012, Prime Values predicted a gold price crash. The January article depicts the main factors that could bring a gold crash in 2013 or 2014. The first signs have already proved that we're heading downwards.

The SocGen 1,375 $ level is still relatively high, if we compare it to the predicted 1,200 $ level (a level that gold is expected to reach by various financial institutions, including Saxo Bank). Here's the Prime Values article about sub 1,200 $ gold prices.

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