Gold at $10,000? Market watchers hold firm on forecasts despite bullion bear market slide

From cnbc.com

Gold’s sharp selloff may have pushed the metal firmly into bear market territory, but some market veterans are sticking to ambitious long-term forecasts. Bullion extended its slide Tuesday, with spot prices falling as much as 2% before trimming losses to trade down 1.5% at $4,335.97 an ounce. Futures dropped about 2% to $4,317.80, while silver also declined. The move leaves gold — down roughly 21% from its late-January peak of $5,594.82 — firmly in a bear market. For many strategists, the recent slump reflects short-term dislocations rather than any shift in gold’s underlying fundamentals. Persistent ... (full story)