Does This Mean Gold Has Found A Bottom?

There could be a silver lining here. Some analysts see Vanguard’s move as a further sign that the gold market has found a bottom—and that the metal could be teeing up for a reversal.

You see, this isn’t the first time Vanguard changed the fund. In 2001, when gold was similarly near a bottom, the company removed the word “Gold” from what was then the Vanguard Gold and Precious Metals Fund.

The change coincided with a decade-long precious metals bull run that saw gold rally from an average price of $271 an ounce in 2001 to an all-time high of more than $1,900 in September 2011. That’s more than a sevenfold increase.

And now it’s dropping the fund altogether.