Jim Rickards: The Fundamental Bull Case For Gold Has Not Changed

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June 27, 2013 1:17pm NYSE:DZZ NYSE:GLD

Jim RickardsGold bugs are having a tough time defending the so-called “yellow metal” these days. The price of gold has fallen nearly 24% since the beginning of the year and more than 30% from its peak in August 2011. Last week spot gold had its worst weekly performance

in nearly two years.

Jim Rickards, author of “Currency Wars” and a senior managing director at New York financial firm Tangent Capital, argues that investors should not lose sleep over the recent selloff. “The fundamental bull case for gold has not changed at all,” he says in the accompanying video.

Investors flocked to gold during the 2008 financial crisis because of its perceived safe-haven status. But low inflation, stronger-than-expected economic growth, concerns that the Fed will reduce its asset purchases and a rally in equities have pushed down the price of gold. Watch the video below to find out what Rickards calls the Fed’s “worst nightmare.”

Related Tickers: SPDR Gold Trust ETF (NYSEARCA:GLD), iShares Gold Trust ETF (NYSEARCA:IAU).

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