After what can only be termed an 'annus horribilis' for the gold market in 2013, with gold off some 30% in USD terms (15% in AUD), silver off nearly 40%, and...

After what can only be termed an 'annus horribilis' for the gold market in 2013, with gold off some 30% in USD terms (15% in AUD), silver off nearly 40%, and gold stocks down over 50%, many investors could be forgiven for crawling under a rock and not wanting to come out as we enter the new year. But what is the likely outcome for gold in 2014 and the latter part of this decade? The short term outlook is highly uncertain, with the easiest path still to the downside, as hedge funds potentially maintain or even increase short positions and as investors in GLD continue to rotate into the S&P500 and other markets, but how much further can this go. I see a lot more upside than downside in 2014, and continue to beleive it plays a vital role in any genuinely balanced portfolio trying to manage risk more detailed thoughts here (VIEW LINK)