Gold Price had Roller Coaster Year (2014)
It does not happen often and since 1998 the price of gold is likely to fall for 2nd year in a row. At beginning of 2014, Gold was around $1,201 an ounce and it will be trading below that mark by the end of year. At time of publishing this article gold is trading around $1185 an ounce, which is below from where it started.
The good sign is U.S economy is strengthening and analysts are seeing this as the reason for fall in gold price. At one point in 2014 gold was near $1400 an ounce so it was not a flat year but price fluctuation happened often and we term it as Roller Coaster.
It has not been very bad year for gold when we compare it with 2013 when we saw around 28% decline in gold price. It was a sharp decline and that to first time since beginning its bull run in 2000.
Going by predictions for next year they are coming in as mixed ones, most of them saying it will stay flat or have modest gain. Predictions are even going round that gold will have dramatic fall, possibly fall even lower than $1000 an ounce.