Read the rest here...Below the streets of Lower Manhattan, in the vault of the Federal Reserve Bank of New York, the world’s largest trove of gold — half a million bars — has lost about $75 billion of its value. In Fort Knox, Ky., at the United States Bullion Depository, the damage totals $50 billion.
nd in Pocatello, Idaho, the tiny golden treasure of Jon Norstog has dwindled, too. A $29,000 investment that Mr. Norstog made in 2011 is now worth about $17,000, a loss of 42 percent.
“I thought if worst came to worst and the government brought down the world economy, I would still have something that was worth something,”? Mr. Norstog, 67, says of his foray into gold.
http://www.nytimes.com/2013/04/11/busin ... ml?hp&_r=0
Part of me thinks this thread properly belongs in the VP forum but everyone seems to be discussing gold's recent case of the blues in the this forum. For the record I don't particularly care what gold does, it's always been my least favorite component. But if you are in the PP you accept that at any given time at least one of the assets you hold will be a stinker. And if gold really is entering a secular bear market that would likely be good news for the broader economy.
