Wells Fargo Reverses On Gold Prices, Returns To Bear Territory

New York (May 28)  Gold prices no longer look attractive based on the way the yellow metal has reacted to recent economic events, this according to John LaForge, head of Real Asset Strategy at Wells Fargo.

“Stocks, in the last few weeks have hit, and you see the days when stocks really get hit, and what does gold do? Gold is up $3, it’s up $5, it’s up $7. I think where we are in this gold super cycle, this long cycle with commodity prices is we’re kind of in the dull period,”

Reuters