NEW YORK ( TheStreet) -- Last weekend I read an interesting article regarding the correlation between gold and inflation. The article, "Gold Could Still Have Further To Fall," by Mark Hulbert was published in the Wall Street Journal and calls for gold to fall into the $700 range.The idea is based on research done by Campbell Harvey and Claude Erb, in a study called "The Golden Dilemma." According to the study, assuming that inflation doesn't change all that much, gold still has significant downside ahead. Essentially they tied the price of gold to the Consumer Price Index (CPI) and have assigned a long-term price ratio to it.
Will Gold Drop Below $800?
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