"Gold hits lowest level in a year"
Straits Times, Money Page Headline 24th October' 2008
One of the example how the crisis unfolding is making irrational events, or rather, distorting conventional wisdom.
In moments of crisis, gold is traditionally seen as a safe asset class. In bad times, gold usually benefits in times of uncertainty.
we all know the value of gold as a stable mark of value.
Why the break in wisdom? One reason is that the greenback, after suffering from months of low value, has surged and become a strong and dependable asset class, taking gold's position as a safe asset to park value.
2ndly, fall in gold prices was led by the downfall of commodities prices, including the prices of precious medals such as platinum and silver.
So where can u park your money now?
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