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Gold Dies

By Ilene
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Gold Dies

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Remember gold? For a long time, it was THE story in financial markets.

Traders and pundits told a wonderful story about how the economy was going into the toilet and that gold would explode to 10,000 because the Fed was creating dollars like crazy in a futile attempt to stimulate the market.

But the story is over. The dream is dead. Gold looks like death.

Following Friday's strong jobs report, in which the unemployment rate fell to 5.9%, gold has broken below $1200.

Here's the chart from FinViz showing what a dog gold has been.

Screen Shot 2014 10 03 at 10.50.27 AM

FinViz

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