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Gold/Mining/Energy : Juniors News!
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From: canucklehead801/15/2012 1:37:54 AM
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2012: Whither Gold?
By Kevin Michael Grace

Gold has been north of $1,600 an ounce for most of January. Last month, however, it threatened to travel south of $1,500, triggering fears that the long bull market had come to an end. So what kind of price movements can we expect in 2012? North, south or lateral? Resource Clips asked two prominent gold analysts to explain why gold collapsed in December and where it is likely to go from here.

Bart Melek, Head of Commodity Strategies for TD Securities, blames the December drop on “fiscal problems in Europe and a financial crisis that’s starting to come to a head.” He explains, “We’re increasingly seeing financial institutions and other players being forced to cover margins and swap out gold for cash. It’s very difficult for European banks in particular to get funding. The thing to do is sell whatever assets they have to cover margins and other obligations.”

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