April 13, 2013
WHAT A REAL BUBBLE LOOKS LIKE:
Gold plunges 5%, below $1500 (Paul R. La Monica, April 12, 2013, CNN Money)
So much for that weak dollar, huh? The Bitcoin craze may finally be peaking and now another "alternative" currency is plunging too: gold.Gold, which in its defense is at least a tangible asset, sank 5% Friday and fell below $1500 an ounce. [...][T]he latest producer price index figures, released Friday, showed that wholesale prices fell 0.6% in March. That might be one of the big reasons why gold was tanking.
It is tangible, like a tulip bulb, but, unlike a home, it has no intrinsic value.
Posted by Orrin Judd at April 13, 2013 8:06 AM
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