Gold Prices Plunge to $1600 Per Ounce

Tuesday, September 27, 2011

For months gold had been on a fantastic run, but last week gold prices plunged 9.6 percent, and then Monday another 2 percent, to $1,600 an ounce. Investors usually consider gold a safe bet, but they may not think of them that way anymore.

Louise Story, Wall Street and finance reporter for The New York Times, discusses why prices are dropping and whether betting on gold is still a sure thing.

Comments [2]

Alli Johanson

I know a lot of gold buyer long island and they just keep on buying and selling. They get a lot of profit from what they're doing.

Oct. 31 2012 12:17 PM

The question that goes unasked is why is the government speeding up its investigation of S&P after it downgraded the US?
If the S&P did not downgrade would this investigation be happening to this extent?

Sep. 27 2011 08:52 AM

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