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Nadeem
Veteran Investor
Joined: 11 Jul 2004
Posts: 639
Cash Points ££ 13955.74
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 Posted: Fri Jan 19, 2007 3:03 am Post subject: Stock Market and Gold Wrap Up for 2006 and prospects for 07 |
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Most of the markets moved higher in 2006, driven by lots of liquidity. Stocks, commodities, precious metals and currencies... they all rose. Let's now see how they ended the year...
LARGE CAPS: THE BEST SECTOR
As the year drew to a close, the Dow Industrials hit new record highs and the S&P500 ended up gaining 11.78% in 2006. The Dow Transportations rose 8.59% while the Utilities gained 10.44%. The least impressive index was Nasdaq, which was up 7.65%, but the big stock winner was the Dow Industrials. It rose an impressive 14.90%.
Some of the foreign emerging markets did much better than the U.S. and other major international stock markets. Among the best were Mexico, Hong Kong and Singapore, which gained on average 34.5%.
In comparison, U.S. bonds were down slightly in 2006. So stocks were a better investment, strongly outperforming bonds. But what about the currencies and precious metals?
If we take the euro and British pound as examples, which were among the stronger currencies, they gained 9.86% and 12.22%, respectively, averaging 11.04%. Interestingly, this nearly matched the gains in the S&P500, making the stock and currency markets close competitors in 2006.
BUT PRECIOUS METALS WERE THE WINNERS
The precious metals were another story as they strongly outperformed nearly all of the other markets, like they've done over the past six years. Gold rose 19.69% while silver soared 41.06%. Taking the average of these two metals, annual gains amounted to 30.38%, which was slightly more than double the gains in the strongest U.S. stock index, the Dow Industrials at 14.90%.
The HUI gold share index, however, only rose 13.27%, which was in line with the general U.S. stock market. Still, if we average gold, silver and the gold shares, gains were 24.67% and that was 66% better than the Dow.
The point is, even though the stock market had its best year in several years, the gains in precious metals investments continued to be far better. We believe this will continue in 2007 and for years to come.
Looking at Chart 1 , it tells the story. Here you'll see gold compared to bonds and stocks going back to 1970, along with a very long-term 80 month moving average.
Full Article - http://www.marketoracle.co.uk/Article229.html |
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