It opened at 1,674.6 in January 2013 and peaked at 1,695.7, which few would have guessed would also be the highest of 2013.
In retrospect, 2013 has been a very bad year for gold, with only three months in the year when gold was up. At the beginning of the year, gold was trading at $1,674 an ounce, and now it is around $1,200 an ounce.
In retrospect, gold was actually in a bear market before 2013, but it was only in the 2013 crash that the bear market was truly recognized.
In the face of new lows, even some market participants exclaimed that gold’s bull market was now over, and that gold had lost its safe-haven function and perhaps its love.
International has fallen nearly 37 percent since hitting a record high of $1,923.7 an ounce in September 2011, thanks to heavy selling by hedge funds.
Gold, meanwhile, has disappointed as U.S. stocks continue to rise and inflation has not accelerated.
Gold ETF funds fell sharply as investors moved into equities.
As can be seen from the calendar chart, international gold recorded its first annual decline in 13 years.
In the first half of 2013, although the international gold mainly fell before March, few people believed that gold would fall below 1500 USD/oz. However, the trend of gold fell below 1400 USD in April, which also surprised many people.
Fall to this level after investors finally admitted that the gold has entered a bear market, at the same time, such as SPDR gold ETF underweight, also bring serious downward pressure, but in front of such a strong trend of short, still some people refuse to “bow”, the market began to someone more vigorously to carry on the bottom, these people proved “death” in the bottom.
In April 2013, a relatively large team, “Chinese Dama”, was also born. With the decline, accessories also began a “big promotion”.
The lavish spending of Chinese damas in the gold jewelry “big promotion” has not only impressed Chinese people, but also shocked Wall Street financiers.
The Chinese lament that they are too rich, and financiers lament that they will be caught up in it.
Gold’s performance in May and June provided a real indication of the bears’ strength over the tigers, with prices falling as low as $1,180 an ounce, leaving those trapped in the market with no bright future.
Since July, it has also begun a two-month rally, the market in this two-month rally, seems to give deep exposure to the gold market investors once again see hope.
Just as some were glad to have caught a bottom and others regretted missing it, gold resumed its downward pattern in September, once again telling investors that the bear market wasn’t over.
The market has been falling since September, and the December Fed rate decision, which signaled a recovery in the U.S. economy, has also weighed on gold, which has become the dominant trend.
The above is about the “2013 international gold trend review” related introduction