By Sue Chang
SAN FRANCISCO (MarketWatch) — Judging by the gloomy commentary and headlines, there isn’t much cause to recommend gold as an investment option in the near term–a far cry from 2013 when some analysts had boldly predicted that gold would trade at $2,000.
That exuberance hasn’t been justified, so far. Gold for June delivery GCM5, +0.64% was looking to snap a three-day losing streak on Friday and was up marginally $5.50, or 0.5%, to $1,199.30 an ounce in Friday trade, after falling $9.50 and settling at $1,193.60 an ounce on Thursday.
But gold bugs have a good reason to hope despite the pessimism washing over the market.
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