In fact, gold experienced its worst quarter in at least nine decades, according to Bloomberg. Gold is in danger of seeing its first annual decline since 2000.
“Investors sold 586.5 metric tons as of June 28 from exchange traded products in the past six months, more metal than South African mines extract in three years,” according to the report. “They held 2,045.4 tons valued at $81.8 billion, down from a peak of $147.7 billion in October.”
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Full disclosure: Tom Lydon’s clients own GLD.