The precious metal is losing its shine — but that's mostly because the rest of the economy is humming along nicely
"Things are looking up for the economy and, as a result, down for gold," says Nathaniel Popper. The value of our safe and shiny investment has slipped 17 percent since 2011, after 12 straight years of growth. "It is a remarkable turnabout for an investment that many have long regarded as one of the safest of all," Popper says.
When investors are worried about the value of U.S. currency, the safety of securities investments, and the overall health of the U.S. economy, they often trade in their cash for gold. So in the frightening wake of the shrub-induced financial collapse, shell-shocked investors flocked to bullion. Between 2009 and 2010, $5 billion flowed into gold-focused mutual funds.
But now, with the Obama economy recovering slowly but surely, gold's attractiveness is fading — and fast. The precious metal's price has dropped 5.8 percent this year. On Wednesday, the value of an ounce of gold dropped another $28, bringing it to $1,558.
So the good news: Gold is plummeting because the economy is recovering.
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that was great! If you don't mind, I want to use that in all replys to these Obama supporters, but don't want to copy without your permission..........That should become "THE" standard reply from all of us!