RE:RE:RE:2016 (only three more days for $2,400 U.S. gold)Well, Sprott's call for $2,400 (U.S.) gold is off the mark by $1,340 (U.S.), and 2016, according to the experts, looks like it's going to be a bust, with many calls for a sub-$1,000 (U.S.) price.
Sprott funds are also down for the year, with Sprott Physical Silver down $2.14 (28.9 %) ; Sprott Gold down $2.18 (20.1 %) ; Sprott Platinum down $2.77 (31.1 %) ; and Sprott Inc down 57 cents (19.3 %).
https://fortune.com/2015/12/31/gold-prices-2016/
2016 Looks Like Another Bad Year for Gold
by Reuters December 31, 2015, 10:09 AM EST
This year marks its third straight annual loss.
Gold was steady on Thursday but poised to mark its third straight annual loss, ahead of what is likely to be another tough year with the prospect of higher U.S. interest rates and dollar strength.
Largely influenced by U.S. monetary policy and dollar flows, the price of gold has fallen about 10% in 2015 as some investors sold the precious metal to buy assets that pay a yield, such as equities.
Spot gold was up 0.2 percent at $1,062.80 an ounce, during the last trading session of the year. Volumes were thin ahead of the New Year holiday on Friday.
Prices were set to end 2015 close to a near-six-year low of $1,045.85 hit earlier in December.
The key factor for gold remains the strong dollar and that ultimately trumps all other issues including the economy and the geopolitics, said Ross Norman, chief executive of bullion broker Sharps Pixley.
The dollar was on track for a 9% gain this year against a basket of major currencies, making dollar-denominated gold more expensive for holders of other currencies.
Other precious metals have also been hit by dollar strength and the gold slump, and were headed for sharp annual declines.