{"id":7448,"date":"2010-03-10T08:30:08","date_gmt":"2010-03-10T13:30:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7448"},"modified":"2010-03-10T08:30:08","modified_gmt":"2010-03-10T13:30:08","slug":"gold-best-supporting-role-in-economic-downturns-think-again","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/10\/gold-best-supporting-role-in-economic-downturns-think-again\/","title":{"rendered":"Gold: Best Supporting Role In Economic Downturns? Think Again"},"content":{"rendered":"

Gold’s safe-haven status is based on hype, not histor<\/span>
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By Nico Isaac<\/span><\/h3>\n

As I sat down to watch the Oscar pre-show on Sunday night, March 7, one word was repeatedly used to describe the celebrity starlets and their designer duds: GOLD. Gold bustiers and gold lame skirts, shiny gun-metal dresses and glittery sequined gowns all basking in the golden shadow of the final golden statue.<\/p>\n

Everywhere you look, from the Red Carpet to Wall Street, gold is definitely in “fashion.” As for why, one word comes to mind: safe-haven. See, according to the mainstream financial experts, the more unstable the global economy, the greater the appeal for the precious metal.<\/p>\n

And, with a staggering 17% unemployment rate in the United States, alongside slumping real estate sales, Eurozone weakness, the Greece debt debacle, and so on — the only thing going up is gold’s supposed disaster premium. Here, take these recent news items for example:<\/p>\n