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Gold price plunges as confident investors pile out of safe havens

Posted on 02 December 2013

End of a 13-year boom as US economic upturn sees investors confidently selling gold and buying shares. November brought more bad news for believers in the eternal power of gold: the commodity saw its sharpest monthly price fall since June. This month’s 6% drop makes 2013 a terrible year for gold, and is set to mark the end of a 13-year boom. Gold is heading for its first annual fall since 2000 after shedding a quarter of its value this year.
Things were so different in September 2011, when it hit a record price of $1,921 an ounce, a gain of more than 550% in just over a decade. Investors had piled in during the financial crisis: the price of gold traditionally rises when assets such as shares, bonds and cash are threatened………………………………..Full Article: Source


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