Gold bears jump the gun

The price of gold has gone up for 12 of the past 13 years. But this year, as equity markets have turned bullish, gold has retreated.

It's down 5.9 per cent for the year to date and is 18 per cent below its 2011 peak. In February, gold recorded its fifth consecutive monthly fall. The last time there was a contraction of that duration was back in 1997.

Gold has always had its sceptics, so it's not surprising some analysts are talking about the end of the secular bull market in the precious metal.

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Max Walsh

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Max Walsh was for many years one of Australia’s top economic and political commentators, highly regarded as a journalist, author and broadcaster. Throughout his career, Max was involved in all dimensions of the media industry, which has encompassed positions with two of Australia’s largest publishing companies and television networks.

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