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Hi all, we are getting to the end of 2014 a year when gold for most of the time did very little, however had some sharp gyrations between $1135 and $1400. It now stands pretty much unchanged for the year & up in AUD terms.
So who has been right?
Lets face it, at this point most of us bulls & bears have been wrong as the market has either been a bear in hibernation or a calf that is about to get some balls.
Will we look back at 2014 as the year when the POG found a base & reversed the bear market?
Or will it he viewed as the market taking a breather before another leg down?
IMO there are reasonable arguments to back both cases.
However my bias is that we are nearing a bottom in USD terms.
The big change for me in 2014 has been the change in behavior of the AUD that is now trading back to its traditional pattern as the carry trade gave way to the sharp appreciation of the USD & the perception of a weakening of the Australian economy.
