I just noticed that gold prices have dropped about 5% on June 20th to down under $1,300 level. As I write this Kitco shows spot at $1,277.
Its been a few months since I last talked about gold with my article Is Golds Run Finally Coming to an End?
The yearly graph so far for 2013 does not look at all like a bubble or a bear market. In fact for the year to date the prices have dropped about 25% at this point.
Whats more while gold has been going down the stock market has been going up. Here's how the SPY and GLD ETFs compared for 2013 so far :
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| (source Yahoo, click image for full size) |
Ouch.
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