We have 2 trading days left and we can officially salute a very ugly 2013 for PM’s. I am not going to miss this year that was uphill not only for the metals but also personally… However, I am optimistic for the 2014 coming and will post about very soon.
We did have a short covering-mini-rally as I wrote about in my past couple of post, but is by any means too little too late. Is a double digit loss year for both Gold & Silver, no excuses. I wrote on this blog since May that we needed a game changer and that we were going to wait at least till the last 2-3 months of the year. Well, we must keep waiting few more months into 2014… But make no mistakes, the same reasons why you will want to own PM’s in 2013 are valid in 2014, maybe more since we are due, overdue, for a major bounce back.
Money are trapped in other major asset classes for now, but when that changes, expect also double digit profits in PM’s. It is coming, but if you are not for slow money or just look to make a quick profit, then you shouldn’t be in Gold and Silver for sure. We’ll update in the next few days on how this negative 2013 has planned out and we’ll take a closer look at the coming 2014 and what to look for in the coming year..stay tuned, ciao!