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Don’t cry for the gold bugs: When gold’s a good investment, the economy sags

Posted on 28 June 2013

Running a leveraged hedge fund with a long position in gold has not been a lot of fun lately. The price of gold closed in New York at $1,225.20/oz on Wednesday. This was down by 4.1% on the day, lower by 18.6% year-to-date, and down by more than 35% from gold’s peak on September 6, 2011.
I have never owned gold. For years, people have asked me if gold is a good investment. My answer has always been the same: “It had better not be.” This is because if gold is a good investment, neither America nor ordinary Americans are likely to do very well………………………………………..Full Article: Source


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VRS - who has written 39021 posts on Opalesque Commodities Briefing.


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