MAINSTREAM MEDIA Tells People to AVOID GOLD in 2014 – “Wouldnt Buy Gold with my Worst Enemies Money”
It was a year of stocks shining bright when it comes to adding to the investors’ wealth, and the glitter of gold and silver fading for the second straight year in 2013.
Measured by benchmark index Sensex, stock market has generated a positive return of about 9 per cent for investors in 2013, while gold prices fell by about three per cent and its poorer cousin silver plummeted close to 24 per cent. After outperforming stock market for more than a decade, gold has been on back foot fo ..
It has been a terrible year for gold. The two biggest mining companies, Goldcorp (GG_) and Barrick Gold (ABX_), and the SPDR Gold Shares ETF (GLD), are all down by double digits. By contrast, it was a bull market year for stocks, with the Dow Jones Industrial Average (DIA) rising more than 25% for 2013.
Based on recent economic data and financial indicators, 2014 looks to be more of the same for those choosing to speculate on the yellow metal rather than invest in equities.
Gold has posted its worst year since 1981. In general, gold performs best as a safe haven asset when economic times are at their worst. When investors lose confidence in the value of paper money, many buy gold. That drives up the price. But that has not been the case for 2013. There are simply too many undeniable signs that the global economy is improving, with the U.S. and China, the two biggest economic powers, leading the recovery from the Great Recession