| Calendar year 2013 will be a year many gold bugs would rather forget. After a sustained multi-year rally, the gold price touched a 52-week high of US$1703/oz near the start of 2013. Since then it has been in a consistent downtrend with the precious metal currently trading just US$50 above its year low of US$1180/oz.
The decline has certainly unwound much of the exuberance that had been on display in the gold sector, with the US$1180/oz level reducing the metal back to where it traded in the aftermath of the Global Financial Crisis. While the decline in the gold price has been dramatic, the effect on gold producers and explorers has been nothing short of horrifying...............................................Full Article: Source
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