17.09.2013 - Where is the price of gold headed?
Here is an interesting fact; at the end of this December gold only has to close above $1675.21 (its last closing price for 2012), for it to see thirteen consecutive up years. Assuming a current gold price of $1320, gold has only to advance about 27% at the end of December for 2013 to be gold's thirteenth up year in the table above. With the better part of four months left in 2013 gold could easily accomplish this. But even if 2013 proves to be the first down year for gold since 2001, this would be no reason to become bearish on gold. After all, in the first twelve years of the Dow Jones' 1982-2000 bull market it saw three down years: 1984, 1990 & 1992 without Wall Street becoming bearish on the stock market. Predictability, Wall Street has been bearish on gold and silver since Alan Greenspan became Chairman of the fed in the late 1980s, so they would probably make a big deal of gold seeing 2013 as a down year, but we should not. (Press Release)