Will gold prices rise in 2013, or will the bear market continue in the second half of the year?
The bears have certainly been loud this year, as short-term bets against gold paid off in the first half of 2013. Gold lost 27% in Q1, the worst first-half performance since 1981.
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The Great Gold Crash in April has likely set in motion one of the biggest shifts in precious metals markets in a lifetime.
While some big players likely stepped in to crush the markets for personal gain, they may have accidentally also made a move that will divorce gold and silver bullion pricing from gold and silver futures.
Forget about gold miners vs gold stocks, we're talking a whole other level of magnitude if this trend takes hold.
Here's a look at the circumstances, the players and what to expect next...
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This gold prices chart compares the yellow metal to two other measures to find out if indeed gold is in a bubble. You must see the answer… Read more...
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Money Morning Executive Editor William Patalon III recently had a chance to catch up with famed investor Jim Rogers on investing in gold, U.S. stocks, and the best commodities for 2013.
Renowned commodities investor Rogers is concerned about the worldwide economy, but he's not worried about the recent sell off in gold.
In fact, he stands poised to pounce on the yellow metal should it fall further.
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It's been a good few days for investors holding on to gold, and we've been getting lots of questions as to why gold prices are up this week.
Gold futures had their biggest one-day gain of the year Thursday, up nearly $40 an ounce, and ended the week up 4.2% at $1,453.60.
At one point this week, gold had retraced half the loss it incurred during its April nosedive. In a two-day period, the yellow metal fell $225 an ounce, hitting a two-year low on April 15.
It is natural for any financial asset to enjoy some sort of a rebound after such a steep plunge. But there are some sound fundamental reasons as to why gold is up.
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With the yellow metal down about 14% this year, wouldn't it be great to get the scoop from famed investor Jim Rogers on gold prices in 2013- specifically, why they're down, and if investors should still bet on a long-term gold bull market?
We had a chance to ask Rogers those very questions last weekend.
Sunday evening, Money Morning Executive Editor William Patalon III spoke on the phone with Rogers - who was at his home in Singapore - in a wide-ranging discussion about gold, U.S. stocks, commodities and global central banks' "race to the bottom" - or, as Rogers calls it, "race to insanity."
In this exclusive interview, the legendary investment guru took us on a tour of the gold market, taking a close look at what's driven the past 12 years of gold price gains - and what will move the yellow metal going forward.
He also pointed out the one fundamental reason why gold prices fell recently...
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We all have the same question: What's going on with gold? As Frank Holmes explains, investors are now moving out of paper gold and into the physical. Read more...
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The world's central bank gold buying has been a huge reason for investing in gold. Here's where they stand now, after the price plunge. Read more...
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The gold bear raid is happening at the expense of you - and anyone else trying to protect their wealth from the printing presses. Chris Martenson explains. Read more...
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Monday's drop in gold prices was the largest one-day plunge since February 1983 - which led many of those investing in gold to bail on the yellow metal.
Gold prices tumbled $140.40, or 9.4%, to $1360.60 an ounce. This brought the two-day decline to $203.70, or 13%.
On Friday, we outlined recent factors driving gold's price plunge:
Gold prices ended the drastic two-day decline Tuesday, up nearly 2% to $1,387.40.
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Investors want to know: What's driving down the price of gold - and how long will the plunge last?
Gold prices tumbled Monday by more than 9% - the biggest percentage drop in 30 years.
The yellow metal had fallen to just above $1,360 an ounce Monday afternoon.
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Even though the Dow Jones Industrial Average and Standard & Poor's 500 Index have hit record highs this year, investing in gold remains the top investment pick in CNBC's latest All-America Economic Survey.
The March poll shows the yellow metal is the favored investment choice among 35% of respondents, beating real estate at 27% and stocks at 21%. This is the second year that investing in gold has topped the list of what those surveyed consider the "best investment" to make now.
While survey participants are more optimistic this year than last about the stock market, 21% are uncertain if now is a good time to dabble in stocks, up from 11% in December 2009.
Those who believe the current environment make it a good time to buy stocks jumped from 31% in November to 40%, the highest amount since December 2009.
Moreover, in spite of the improved outlook for stocks, the overall view of the current state of the economy remains bleak. Currently, 60% of those surveyed are pessimistic about the U.S. economy, up from 56% in November.
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After more than a decade of merger mania, gold miners are now looking to spin off some of their acquisitions.
By doing so, the gold miners hope for better results after abysmal performance recently, as gold prices have fallen. And, as always, gold miners' profits rise and fall much faster than the yellow metal's price.
The underperformance of the Market Vectors Gold Miners ETF (NYSE: GDX) compared with that of the SPDR Gold Trust (NYSE: GLD) bears this out. GDX is down 20.5% since the end of last year, while GLD is down 4.8%.
Investors are starting to get really impatient with the gold miners - so much so that billionaire hedge fund manager John Paulson is arguing some of the world's biggest gold mining companies, including AngloGold Ashanti Limited (NYSE: AU), spin off some of the mines that they have acquired through M&A over the past 10 years.
Paulson, the largest shareholder of GLD and AU, thinks the sum of the parts is greater than the value of the whole mining company. Paulson certainly can't be pleased with AU's 23.5% decline so far in 2013.
Other gold majors, including Gold Fields Limited (NYSE: GFI) and Barrick Gold Corp. (NYSE: ABX), have already spun off some of their mines or are in the process of doing so.
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They almost HAVE to. Fact is, gold mining companies' stocks specifically have lagged the performance of the precious metal for six years. Here's why investors can expect a reversal in the next nine months.
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In recent years, global gold production has been at or near record levels. The plentiful supplies have led gold bears to argue that the yellow metal's decade-long bull run will end.
But gold bears are dead wrong.
In fact, the 'glory days' of gold production may be ending soon.
That's because some industry experts are beginning to point to a gold "production cliff' that is looming not far in the future.
And this coming decline in production can mean only one thing: higher gold prices.
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