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Commodities Briefing - Categorized | Bullion/Gold, Trends more

Gold, long a secure investment, loses its luster

Posted on 11 April 2013

Below the streets of Lower Manhattan, in the vault of the Federal Reserve Bank of New York, the world’s largest trove of gold — half a million bars — has lost about $75 billion of its value. In Fort Knox, Ky., at the United States Bullion Depository, the damage totals $50 billion.
And in Pocatello, Idaho, the tiny golden treasure of Jon Norstog has dwindled, too. A $29,000 investment that Mr. Norstog made in 2011 is now worth about $17,000, a loss of 42 percent………………………………………..Full Article: Source

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VRS - who has written 37015 posts on Opalesque Commodities Briefing.


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