TheStreet's Joe Deaux said the yellow metal is on pace to lose 30% in 2013, its worst performance in three decades, he said. Gold fell April after big investment firms downgraded the outlook for the commodity. As economic data continued to improve, gold prices kept going lower, he added.
The clincher came when the Federal Reserve decided in December to begin tapering its quantitative easing program in January.
But 2014 could be different. According to George Gero, a precious metals strategist at RBC Capital Markets, gold prices could see a boost under several different scenarios, Deaux said. They include a weaker stock market, unforeseen economic events or a rise in inflation.
-- Written by Bret Kenwell in Petoskey, Mich.