Commodities and Gold Are A Wake-Up Call on Renewed Deflation
Prechter's latest Elliot Wave Theorist predicts gold falling to ~$200 - eventually, not in a straight line. I didn't blink when I saw that, although I was thinking more like $400. Either way, the logic is solid. Gold has no yield - and in deflation, dollars will be in extremely short supply, therefore any asset denominated in dollars that does not have a consistent dollar-denominated yield will go down in value.