Gold sees biggest annual loss in 3 decades

CNBC ^ | Tuesday, 31 Dec 2013 | Matt Clinch

[artichokegrower]

Gold's loss of luster in 2013 solidified Tuesday as the precious metal settled 28 percent lower for the year at $1,202.30 an ounce, its worst annual fall since 1981, after investors spent 2013 moving their money into equities.

And 2014 is not shaping up to be a landmark year for the metal, according to market watchers.

"It's going down further," Nick Hungerford, chief executive and founder of investment management company Nutmeg, told CNBC Tuesday.

[artichokegrower]

I wonder if the guys on Gold Rush and Bering Sea Gold have heard this news? Going to have to work a little harder to make ends meet.

[1rudeboy]

Glenn Beck is deeply saddened.

[Phillipian]

Whistling past the graveyard methinks.

[narses]

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[Jack Hammer]

So... any Freep gold “experts” know - is this a good time to buy, or is the price going lower?

[mdittmar]

I’ll buy when it hits $300.

[Billthedrill]

Feh, it’s over, the stuff is worthless. I’ll take any you guys have laying around off your hands for a buck a pound. Heck, I’ll even pay for shipping.

[what's up]

Going lower (though I’m not an expert).

[Osage Orange]

Don't buy a falling chart......

http://stockcharts.com/h-sc/ui?s=GLD&p=W&b=5&g=0&id=p77579856188

[al baby]

I got some from my late father he bought in fearing the y2 k thing we still making out pretty good

[bigbob]

Beck will have to start hawking Lifelock or Carbonite...

[mrsmith]

Nothing to do with the topic other than this is a gold thread....

Anyone recommend a refiner to sell dental gold to?

[montanajoe]

The price of production is between $600-$800 ton. So it has a way to fall.

The folks peddling gold have been taking many Conservatives to a ride for years now. I hope some at least will stay away from the stuff..

[PoloSec]

Amazing I remember when gold was under $200 dollars an oz more or less, I remember when $900 dollars an oz was extreme over valuation.

What a drag it is getting old!

[Eagles6]

I don’t know about gold but silver is at the break even price for miners. Any lower and they lose money producing it. You can only stay in business that way if you’re the gubmint.

[Blennos]

Those who are long gold will be happy to read the preponderance of bearish comments on this thread. Such uniform opinion usually indicates the opposite will happen.

[Stentor]

So... any Freep gold “experts” know - is this a good time to buy, or is the price going lower?

Paper gold is going to zero. At that point they'll just give the real stuff away. /S

[Stentor]

The price of production is between $600-$800 ton.

Whose numbers are those?

[Conspiracy Guy]

I’m buying copper, lead, and brass.

[Maurice Tift]

James Turk thinks that gold is currently undervalued. If he's right, I think buying gold, silver, platinum and maybe some mining stocks would be a good idea. If he's wrong, you've got some possibly worthless mining stocks, but you still have your gold, silver and platinum.