20 Jun 2013 Gold Prices Collapse As Everyone Remembers It’s Just Yellow Metal
If this were mere "volatility"--if gold had some fundamental value that it would likely eventually return to--then the price drop would be no big deal. But there's no solid theoretical way to "value" gold, so its price could do almost anything. Gold prices could fall another 50% to $650, for example, and still be 50% above their level for the prior couple of decades. (In case you needed any more evidence that gold prices don't always go up, from the late 1980s to the early 2000s, gold prices dropped by more than half.)