Saturday, December 28, 2013

BEAR GRIP: 9 ways 2013 changed gold for good

The price of gold is down 28% in 2013 and is set to break the 12-year bull run that took it from around $270 an ounce at the end of 2000 to a record high above $1,900 in September 2011.
Gold's $480 an ounce fall in 2013 is the worst performance since 1980, when the yellow metal hit $850 an ounce, in inflation adjusted terms still the all-time high.
Here are nine ways 2013 changed the nature of the gold market and pulled it into bear territory:

1. A collective loss of confidence

Gold bugs used to be able to roll with the punches and absorb price shocks. This year they had no fight left  (more)
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