Fund managers see opportunity in gold's price drop
This undated photo provided by AA Precious Metals and Minerals Fund, shows Dan Denbow, portfolio manager of the USAA Precious Metals and Minerals Fund, a mutual fund that invests primarily in stocks of companies that mine gold and other precious metals. Denbow believes the key reasons to invest in gold remain intact, despite a sharp decline in gold prices on April 15. It was the largest single-date decline in gold prices in three decades. (AP Photo/AA Precious Metals and Minerals Fund)
Posted: Thursday, April 25, 2013 12:00 am
BOSTON (AP) - Gold is making a comeback after its biggest single-day price plunge in three decades. The sell-off happened almost two weeks ago as investors became less concerned about inflation.
The precious metal has become a popular way for investors to protect themselves from the threat of sharply rising prices. Many experts consider that a possible scenario in coming years as central banks pump cash into their stalled economies to fuel growth. Those policies are a key reason why an ounce of gold trades at nearly four times the price it did 10 years ago.
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Thursday, April 25, 2013 12:00 am.