With a decline of over 2% overnight, gold is the latest commodity to hit bear market territory. The commodity is now down 21.5% from its highs during the collapse of Bear Stearns. As highlighted below, gold is now at its lowest levels of the year and down over 6% YTD. Looking back at the prior eleven bear markets in gold, the average decline has been just under 34% over a period of 18 months.
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