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Inside Investor

Oil is the New Gold

Oil is the New Gold

As I write this on Thursday morning, Gold is in a virtual freefall, dropping below $1400 an ounce for the first time in two years – Ben Bernanke’s statements at the FOMC meeting on Wednesday were, I think correctly, interpreted as a start to reduced Federal Reserve bond purchases and ultimate tightening in interest rates.  The reaction has been swift:  The Dow is off by close…

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