Recent history of the gold price can be roughly divided into 3 phases. The time before summer 2011, when the price rose tremendously: from $280 at the end of the last millennium to an all-time-high of nearly $1,900. Then, a short plateau period followed, where the price never fell below $1,600 (till end of 2012). Since the beginning of 2013 a bear market has taken over, leading to a decrease in the gold price to as low as $1,200. Recent developments in Ukraine caused a slight rise in the gold price, but it is still far away from the glory days 2 years ago. Needless to say, the effect on gold miners was significant. Expectations of huge profits made the...
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