INVESTING: Steep retreat in gold prices gives commodity an allure
Our culture is easily distracted. Shiny things grab our attention. Gold’s luster doesn’t change, but our perception of the shine apparently does. After gold suffered for 20 years in a protracted bear market, we became mesmerized by the stuff, running the price from $250 an ounce to $730 in seven years. I guess when we do decide to focus, we really turn up the heat. But then gold in late spring suffered a sharp 25-percent correction in only four weeks….