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Gold Falls to a 6-Year Low, but Could Fall Another 25%

U.S. stocks closed essentially unchanged on the day after Thanksgiving, with the Dow Jones Industrial Average and the S&P 500 down 0.1% and up 0.1%, respectively. Gold was more active, however, falling to a six-year-plus low, with the SPDR Gold Shares down 1.2% on higher than average volume.

The blue line tracks the inflation-adjusted price of gold since August 1971, expressed in November 2015 dollars. The green line marks the average of that series, which is just shy of $800. In other words, a 25% drop in the price of gold from its current level is far from unthinkable. In that context, a goose egg would be a good result for gold's performance in 2016 -- and that's no golden egg.

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The article Gold Falls to a 6-Year Low, but Could Fall Another 25% originally appeared on Fool.com.

Alex Dumortier, CFA has no position in any stocks mentioned. The Motley Fool recommends Bank of America. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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