Gold, Not so Golden in 2008
Description:
It’s been a terrible year for most major asset classes — stocks, real estate, hedge funds, and commodities. One of the assets that investors might have expected to do a bit better in such an environment, when the vast majority...
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Highlights:
As of Wednesday, gold closed at $847.10 per troy ounce, up 1.5% on the year. Compared with a 40% decline in the Standard & Poors 500-stock index and a 60% drop in crude oil, thats just fine it is, after all, a return of...
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From the list : Stock Market '08 by mona_moolah
The yellow metal settled at a record $1003.20 on March 18 and has lost nearly 16% since. The gains were fueled by much the same activity that boosted grain commodities such as wheat or corn, as well as energy-related commodities — an abundance of liquidity seeking undervalued investments. With inflation anticipated to rise, gold was a beneficiary. This run, however, increased gold’s correlation with other assets such as oil and stocks, and when those assets started to falter later in the year, gold, by virtue of its already lofty position, failed to respond positively.
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