SPDR Gold Shares ( GLD ), the largest ETF tracking bullion, was hammered 28% in 2013, closing at 116.17. The yellow metal defied the bulls' dogma that massive economic stimulus, or quantitative easing, in the U.S., Europe and Japan would ignite hyperinflation and dollar debasement, making gold the ultimate store of value or safe haven. "What they got wrong is the timing," Bill Strazzulo, chief market strategist at Bell Curve Trading in Freehold, N.J., said in an email.