http://www.reuters.com/article/2013/04/15/us-markets-precious-idUSBRE93E0FI20130415 So can someone explain in layman's terms why gold would fall further with the expectations of a falling global economy? I had always thought that gold was the "fall back"... the reason why it had risen so much in recent years?
Because Glenn Beck and others in the gold market, preyed on everyone's fears about the economy and now its saturated the gold market. Besides the wealthy hold all the money in this economy anyway.
chinas been buying the gold to fight off rapid inflation. If they aren't expanding then they won't buy as much gold. The US doesn't use gold as much for the dollar anymore either. So, this makes gold even less important. The people who were talking about investing in gold due to our own inflation, which hasn't kicked in, weren't giving very good advice.
Gold was due to drop as people started profit making as 10 years ago gold was at 300, 5 at 600, 3 at 900. Like the stock market, will really suck for those who jump in buy high and then panic sell low.