It looks like gold is ready to complete the year with a 6% gain, continuing it’s longest streak since 1920, according to Bloomberg. A few days before Christmas, Jeff Clark of Casey Research published a good commentary reviewing the opinions of prominent gold bugs and the many reasons why 2013 looks like another shiny year for the yellow metal:
“None of these parties think the gold bull market is over, nor the price too high. They recognize the implications of a world floating on fiat currencies, and that government “solutions” to debt and deficit spending will significantly – perhaps catastrophically – dilute the value of currencies, the fallout of which has yet to materialize. As for me, I think that the longer the malaise continues, the more likely the breakout is to be both sudden and dramatic.
We can all speculate about when the next leg up for gold will kick in, but the point for now is to take advantage of the weakness, like many of these gold bugs. When the price breaks out of its trading range, are you sure you won’t wish you’d bought a little more?”