By: CNBC.com
The rally in gold prices is developing into a bubble and the precious metal faces "significant risks of a downward correction," Nouriel Roubini, chairman of RGE Monitor, said in a research note, the Financial Times reported Wednesday."The recent rise in gold prices is only partially justified by fundamentals, and is in part a bubble that could easily go bust," Roubini wrote in the report titled: "The new bubble in the barbaric relic that is gold."The note was circulated to investors last week but made available to the public Wednesday, the FT said.Roubini gained notoriety for correctly predicting the financial crisis, earning him the nickname of "Dr Doom."
http://www.cnbc.com/id/34443089
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