Home Breadcrumb caret Investments Breadcrumb caret Market Insights Could gold fall to $700? The risk of deflation in developed economies’ growth and technical pointers turning bearish, could cause gold to drop dramatically, even to $700 an ounce. Yoni Jacobs, Chief Investment Strategist at Chart Prophet Capital, told CNBC that if Gold dropped below the psychological benchmark of $1,500 an ounce, panic selling could follow. Read: Is gold overvalued? […] By Staff | June 29, 2012 | Last updated on June 29, 2012 1 min read The risk of deflation in developed economies’ growth and technical pointers turning bearish, could cause gold to drop dramatically, even to $700 an ounce. Yoni Jacobs, Chief Investment Strategist at Chart Prophet Capital, told CNBC that if Gold dropped below the psychological benchmark of $1,500 an ounce, panic selling could follow. Read: Is gold overvalued? Lack of further money printing by the Federal Reserve could also spark a selloff of gold. The metal has dipped below the $1600 an ounce level eight times in the last 10 months. Read: World markets lower, Fed actions not enough Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo