Gold and gold mining stocks didn't get much love in 2013. In fact,
the yellow metal and the companies that dig it from the ground had a
very, very bad year. Nearly everyone bailed out of this decade-long
darling in 2013, and for a variety of very good reasons.
In late December, I wrote
about several of the reasons why everyone was bailing on gold and the
miners, which included the first real sell-off in the sector after a
huge five-year bull move. That run was, in large part, fueled by the
Federal Reserve and its easy money policies. A near-zero interest rate
policy and massive quantitative easing via an $85-billion-per-month
bond-buying scheme caused a lot of capital to maneuver into the safety
and inflation trade that gold represents. (more)
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