Some analysts are predicting what could be a breakout week for the yellow metal with the Federal Reserve’s policy setting committee, the Federal Open Market Committee (FOMC) commencing their two day meeting in Washington Tuesday. Minutes from the meeting will be released on Wednesday, and quite often they create a bit of volatility in the precious metals market.
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In the article linked above, economist Nouriel Roubini, who is known for calling the U.S. subprime mortgage crises, is quoted for forecasting lower gold prices over the medium term. His most recent call is for gold to correct to $1000 USD per ounce by 2015.
Here is another one of Nouriel Roubini’s gold forecasts from back in 2009.