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<p>[QUOTE=&quot;doug444, post: 1653971, member: 38849&quot;]Last year is history.&nbsp; Every day brings structural changes to the PM market.&nbsp; Foreign central banks are now freely buying gold, slowly diminishing the supply available to individuals.&nbsp; Banks can now count gold as a so-called first tier asset, growing the demand, and funneling unwanted dollars out of the assets.&nbsp; China now encourages citizens to buy gold.&nbsp; More and more junior miners in both metals have gone bankrupt, thereby reducing the number of new finds, and the number of miners that larger miners can acquire.&nbsp; The EuroZone has been in recession two years now.</p><p><br /></p><p>I would hesitate to correlate this year and last year.&nbsp; Having said that, I believe we have not seen the bottom in PM prices for 2013.&nbsp; The sudden disappearance of ammunition from retailers&#039; shelves (even Walmart!) is a good paradigm for what will eventually happen to PMs, but we haven&#039;t reached the tipping point yet.&nbsp; Beware of extrapolating last year&#039;s trends.[/QUOTE]</p><p><br /></p>

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