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It's looking more and more like gold's glory days are behind it - with gold prices on an apparent downward trajectory, it's now given up all the gains it made since Dec of 2010 and many analysts now expect it to end up where it was in the middle of 2009 - in effect, giving up virtually all the gains it made during the Great Recession. As it is, the S&P 500 has now outperformed gold over the last year, last 3 years and last 10 years. Only the 5-year term shows gold with a SLIGHT price gain advantage over the S&P 500 (and that will be gone too if gold drops another 100 points or so).
More to the point however, the US dollar has NOT crashed - the expectation of which was likely THE reason for gold's rise back then to begin with. Now that's becoming more obvious that the US dollar is NOT going to collapse (US economy well into recovery, US deficit on the way down) folks are realizing that there is no real upside to owning gold.
Bad news for gold is good news for the US - and lately gold has been experiencing not much else but bad news.
It's looking more and more like gold's glory days are behind it - with gold prices on an apparent downward trajectory, it's now given up all the gains it made since Dec of 2010 and many analysts now expect it to end up where it was in the middle of 2009 - in effect, giving up virtually all the gains it made during the Great Recession. As it is, the S&P 500 has now outperformed gold over the last year, last 3 years and last 10 years. Only the 5-year term shows gold with a SLIGHT price gain advantage over the S&P 500 (and that will be gone too if gold drops another 100 points or so).
More to the point however, the US dollar has NOT crashed - the expectation of which was likely THE reason for gold's rise back then to begin with. Now that's becoming more obvious that the US dollar is NOT going to collapse (US economy well into recovery, US deficit on the way down) folks are realizing that there is no real upside to owning gold.
Bad news for gold is good news for the US - and lately gold has been experiencing not much else but bad news.
Ken
so you are telling us that the dollar is the only thing to affect the buying and selling of gold?
It's looking more and more like gold's glory days are behind it - with gold prices on an apparent downward trajectory, it's now given up all the gains it made since Dec of 2010 and many analysts now expect it to end up where it was in the middle of 2009 - in effect, giving up virtually all the gains it made during the Great Recession. As it is, the S&P 500 has now outperformed gold over the last year, last 3 years and last 10 years. Only the 5-year term shows gold with a SLIGHT price gain advantage over the S&P 500 (and that will be gone too if gold drops another 100 points or so).
More to the point however, the US dollar has NOT crashed - the expectation of which was likely THE reason for gold's rise back then to begin with. Now that's becoming more obvious that the US dollar is NOT going to collapse (US economy well into recovery, US deficit on the way down) folks are realizing that there is no real upside to owning gold.
Bad news for gold is good news for the US - and lately gold has been experiencing not much else but bad news.
Ken
Gold has doubled in price since 2008.
It could be five times the 2008 price, but since it's only doubled in five years, this proves positively that everything the regime is doing is working just fine.
so you are telling us that the dollar is the only thing to affect the buying and selling of gold?
Of course not, but gold has traditionally been bought as a hedge against inflation - in this case because of a fear the US dollar would collapse. That didn't happen, hence gold is returning to more rational prices.
I might add, I've warned gold bugs all along that that would happen - I saw it all unfold before (back in 1980).
It could be five times the 2008 price, but since it's only doubled in five years, this proves positively that everything the regime is doing is working just fine.
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