Spot gold prices held steady today, but gold futures fell and headed for their largest annual loss since 2000. Reuters said gold has shed about 28 percent in 2013 due to the U.S. Federal Reserve’s stimulus tapering. In previous years, gold has increased to all-time highs thanks to accommodative monetary policies and low interest rates.
Commentary: 2013 broke a 12-year streak for gold and silver. While some warn this is the end of the bull market, many others contend it’s normal for markets to have a correction every so often – a 50% correction isn’t all that drastic. If we realize the full 50% correction, gold will bottom around $900-$1000 according to Jim Rogers.
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