Gold Target Cut by Morgan Stanley Seeing ‘More Pain to Come’

Published Date: 
Wednesday, January 22, 2014

Gold will extend declines this year as gains in equity markets reduce the need for haven assets and increased regulation hurts risk appetite, according to Morgan Stanley, which lowered its bullion forecasts.

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In 1933 President Franklin Roosevelt signed Executive Order 6102 which outlawed U.S. citizens from hoarding gold.

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