June 21, 2013

Another Big Drop in Gold

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 :

(source Yahoo, click image for full size)


Ouch.


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