Mike Fuljenz : Gold Will Be Up in 2014
The view on the performance of gold for 2014 is mixed on Wall Street. There isn’t a clear consensus on how gold will perform after the down year in performance in 2013. Those Wall Street firms that focus on general investments are “bearish” on gold and predict that gold prices will stay where they are or continue to decline. On the other hand, those Wall Street firms that specialize in gold as an investment are “bullish” and predict the prices will rise this year. Data from the U.S. Commodity Futures Trading Commission support that positive outlook. The data show gold positions in hedge funds are up 19% which represents a six-week high. In addition, “short” holdings are down 4.6%. This could represent a potential movement upwards for gold.
Germany’s global banking firm, Commerzbank, agrees as well and predicts an even stronger gold performance in 2014. The firm expects gold to be up and to reach a price of $1400.00. It predicts gold will start to recover in the 2nd quarter 2014.
Mike Fuljenz and Universal Coin agree with those analysts who are predicting a positive year for gold. They expect a modest rise in value. Of course this is dependent upon a steady U.S. and world economy as well as the continued decline of the dollar.
For more about Mike Fuljenz’s outlook on gold for 2014, see “The Divergence of Opinions on Gold.”