GOLD

Article from:
AP Worldstream
Article date:
October 24, 2008
Author:
STEVENSON JACOBS
More results for:
gold Copyright informationCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
Gold prices briefly plunged to a 21-month low Friday as world stock markets plunged, puzzling some analysts who believe the traditional safe-haven asset should be soaring amid the economic turmoil.
Gold clawed back into positive territory later in the day, but prices are still down about 20 percent since the start of the month as fears of a global recession drag down the value of commodities from crude oil to corn. The declines have raised questions among investors about whether gold has given up its long-held claim as a safe alternative investment.
"Gold has not been benefiting from the flight to quality like we would have thought," said Matt Zeman, head trader ...