“I am not saying gold will fall to $1,000, but if it does I can see a lot of buying unleashed at prices not available for six years. And if it does move down there, it should be the final blow to the psyches of the last remaining bulls,” adds Kahn in the Barron’s piece.
Investors have pulled $994 million from GLD, the largest gold ETF, in the third quarter.
SPDR Gold Shares
Tom Lydon’s clients own shares of GLD.