By Jeff Macke
13 Jan 2014
Alas some investors in the old yellow metal might consider the dog’s fate a decent alternative to what’s happened to their portfolios of late. After more than a decade of doing nothing but move higher annually, physical gold and the SPDR Gold Shares ETF (GLD) got destroyed in 2013. For good measure the Market Vectors Gold Miner ETF (GDX) () got even more walloped, and has lost more than half its value over the last 52-weeks.
That’s neither a forecast nor prediction. Just the facts. Those few remaining metal bulls looking for solace should stop reading now or avoid the attached video because Bob Doll of Nuveen is about to say things only serious contrarians are going to want to hear.
“Real interest rates are going up, the U.S. economy is improving, we’re in an environment where a return to normalcy is the course of the day. None of this is supportive of gold.”
via Here’s why gold’s drop isn’t done yet | Breakout – Yahoo Finance.