New book ‘102 Things to Do with a Hole in the Ground‘ spotlights global reclamation projects
Stories of reinvented coal mining regions, regenerated communities and rebuilt ecosystems are told in a new book published this month.
The price of gold has lost a third of its value since hitting all-time highs in 2011.
2013 was particularly brutal with the metal declining 28%; its worst performance in a decade.
The last three years have been even more devastating for gold stocks.
From 2011 through 2013, the NYSE Arca Gold Miners, the FTSE Gold Mines, and the Philadelphia Gold & Silver Indices all declined more than 60%.
Back in February, the boutique investment firm US Global Investors released a report that warned that “ditching this sector may not be the best action to take in 2014”.
The reason, as their chart shows, was that precious metals miners were approaching “the historical limits of multi-year declines”.
While these stocks “have a history of higher volatility compared to the overall US market, consecutive periods of declines are rare.
So far US Global Investors’ view has been borne out and the Philadelphia Gold & Silver Index (INDEXNASDAQ:XAU) has managed double digit gains even as gold and silver’s 2014 rallies begin to fade:
