A 24-Karat Safety Net for Investors
By NELSON D. SCHWARTZ and GRAHAM BOWLEY
NYT
Think of it as the Tea Party of investments.
The price of gold has been rising as anxious investors cast what amounts to a throw-the-bums-out vote against, well, just about everything.
The weak dollar, the volatile stock market, the lackluster economy, the yawning budget deficit, the accommodative Federal Reserve — all this and more have people rushing for gold.
The metal touched a high of $1,424 an ounce on Tuesday, although the price remains well below the peak of the early 1980s once inflation is taken into account.
“It’s in effect a protest vote that there’s something amiss with current policies,” said Abhay Deshpande, a portfolio manager with First Eagle Funds and a longtime gold investor.
(More here.)
NYT
Think of it as the Tea Party of investments.
The price of gold has been rising as anxious investors cast what amounts to a throw-the-bums-out vote against, well, just about everything.
The weak dollar, the volatile stock market, the lackluster economy, the yawning budget deficit, the accommodative Federal Reserve — all this and more have people rushing for gold.
The metal touched a high of $1,424 an ounce on Tuesday, although the price remains well below the peak of the early 1980s once inflation is taken into account.
“It’s in effect a protest vote that there’s something amiss with current policies,” said Abhay Deshpande, a portfolio manager with First Eagle Funds and a longtime gold investor.
(More here.)
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