Gold and silver prices are now 26% and 55% off their 2011 highs of $1,897/oz and $48/oz respectively. It strikes us that the most remarkable aspect of this new bear market is the bewildering absence of an accepted narrative that might serve as an explanation, particularly as central banks generally have become more rather than less bold in their policy actions since 2011. We would however caution against the consensual view that the precious metals have experienced nothing more than a “technical…
‘The $240/oz question: who needs gold now?’
11 Jun 2013
Posted by Barry Norris