Personal Liberty Digest™ will be upgraded this weekend to reflect a dynamic new look and mobile-friendly viewing to enhance your experience! Plus, we'll be providing even more of the compelling content you've come to expect, delivered in a whole new way!

  Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Are gold investments losing their luster?

November 13, 2008 by  

Is gold still a safe haven?Gold prices fell for a second straight day on Wednesday, retreating to levels not seen since October.

On Monday, gold closed at $745.80 an ounce, but as of Wednesday afternoon, that price had dropped to under $720. Prices have generally been on the decline since hitting a peak of $1,000 an ounce in March.

Part of the recent drop in gold prices can be attributed at least in part to a stronger U.S. dollar and falling oil prices, along with the general downward trend throughout the economy. However, gold is still typically seen as a fail-safe investment for weathering economic downturns, which could buoy its price in the current fiscal climate.

"With recessions only beginning in all major economies and the likelihood that recessions will be protracted and deep, safe-haven demand for gold is set to remain robust," wrote Mark O’Byrne of Gold & Silver Investments Ltd.

However, this optimistic long-term prognosis for gold is hardly unanimous.

"Gold is being pulled down by indiscriminate selling of virtually every asset. You could call it collateral damage," Jeffrey Nichols of American Precious Metals Advisors told the Associated Press.

Personal Liberty News Desk

Facebook Conversations

Join the Discussion:
View Comments to “Are gold investments losing their luster?”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.