The Phaserl


Gold’s prospects in 2014 look tarnished

by Myra P. Saefong, Market Watch:

The year 2013 put an end to a dozen years of annual gold gains, and the metal’s prospects for recovery in 2014 don’t look great.

Gold futures prices (CNS:GCG4) lost 28% in 2013, the first yearly loss since 2000 and the largest annual loss for gold futures since at least 1984, according to FactSet data tracking the most active contracts.

It’s a tough reversal for investors who hung onto the precious metal in hopes the forces that increased gold prices by seven times by its peak in 2011 from late 2000 — the popularity of gold-backed exchange-traded funds, rising global wealth and worries about inflation — would stoke demand for the natural resource for decades to come.

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