| At the end of each year since 2001 anyone with gold in their investment portfolio would have had reason to smile. The price of the metal rose every 12 months, from $271 a troy ounce to $1,670 an ounce by the end of 2012, a spectacular bull run.
But 2013 was the year the bull retreated. Faced with macroeconomic conditions seen as increasingly unfavourable to gold – persistently low inflation, an improving global economy, surging stock prices and, finally, an announcement of the phase-out of the US monetary stimulus programme – investors rushed to offload bullion...............................................Full Article: Source
|