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The gold slump: Could it happen again?
If you were long gold this time last year, you most likely don't want to relive what happened twelve months ago. The precious metal suffered its biggest two day drop in thirty years. After crashing through what was strong support at USD 1,525, it continued its decline from USD 1.563 to USD 1,136.
It was a wake-up call to many investors and gold has never reached those dizzying heights again. Figures show a big decline in funds invested in Exchange Traded Products. But in the past year, hedge funds have piled back into the precious metal.
Saxo Bank's Head of Commodity Strategy, Ole Hansen, says a similar drop to 2013 is unlikely. Those who wanted to get out of gold did, he says, and the rest of 2014 will probably be a year of sideways trading.
02:02 minutes
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