Gold is pretty much out of fashion these days.
Gold prices continued to plunge Wednesday morning, falling below $1100 to the lowest in more than 5 years.
Traders are convinced the Federal Reserve will finally raise interest rates by year’s end, diminishing gold’s appeal as a hedge against inflation.
There is less safe haven value in gold as the economy continues to improve. A strong dollar is also denting most commodities.
Gold was down $9 at $1092 an ounce on the New York Mercantile Exchange.
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