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Gold Bear-Market History Signals Second-Half Hope for Faithful
Investors in gold funds, whose value slumped a record $44.7 billion in the second quarter, may do better in the second half of the year if history is any guide. Gains averaged 1.3 percent in the second half from 1981 to 2000, when gold endured a two-decade bear market, data compiled by Bloomberg show. First-half losses averaged 3.9 percent in the period. Investors sold 404.4 metric tons from exchange-traded products backed by the metal in the second quarter as prices tumbled into a bear market in April. Gold is poised for the first annual drop in 13 years after some investors lost faith in the metal as a store of ... (full story)
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