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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.
I'm very pleased both gold and silver are sliding. I'm not wealthy, and I
have a lot of accumulating to do before I'm satisfied with my precious
metals position. I do realize, and regret, that the slide may be hurting
others positions. Just think long term and you'll be fine.
MMII
Good time to buy low ! (Wink)
A GREAT time to buy.
[…] Re: Why is gold down? Keith Fitz-Gerald on What's Driving Down the Price of Gold – Money Morning […]
Gold decrease in value is no accident, we need to look at the big picture, things are very very bad, QE has only supported equities, inflation? Deflation since 2011 is on the horizon, risk off and wait to pounce! usd and shorts are where you need to be for now!