Gold has rallied to $1254 an ounce (on the spot market) from $1218 on December 2. The December 2 closing low was the lowest close for gold since it closed at $1201 on June 27, 2013. But I don’t think the recent rally is likely to run very far. It’s based on what is likely… Read More
Elusive, Frustrating Turn in Gold Will Come
by • October 17, 2013
Gold and gold mining shares spent most of the third quarter backing and filling without establishing any clear direction. Gold increased 7.6% during the quarter, closing at $1328.6/oz, but down 20.7% year-to-date. The XAU Index of gold and silver stocks rose 4.1% during the quarter, and was down 42.5% on a year-to-date basis. The rationale… Read More