Gold futures climbed to a 26-year high above $700 an ounce back in May and
haven’t traded anywhere near that level since.
When gold traded near $728 in May, "there was a lot of excitement,"
prompting scenarios of $1,000 gold prices — even $2,000 and higher, said Steven
Jon Kaplan, a senior editor at TrueContrarian.com.
"Since then, a worldwide economic slowdown has begun [and] the anticipated
increase in demand for commodities has therefore been reduced," he said.
