Keith Fitz-Gerald on What's Driving Down the Price of Gold

    Text size

Investors want to know: What's driving down the price of gold - and how long will the plunge last?

Gold prices tumbled Monday by more than 9% - the biggest percentage drop in 30 years.
The yellow metal had fallen to just above $1,360 an ounce Monday afternoon.

What's driving the selloff? Has gold lost its place as a safe haven? Why have stocks become more attractive than the precious metal to some investors?

Stuart Varney of FOX Business' "Varney and Co." asked Money Morning Chief Investment Strategist Keith Fitz-Gerald Monday about the precipitous decline in the yellow metal. Listen to the segment below to hear Keith's take on what's going on with the price of gold.