Gold Price Sinks Below $1,400

After the gold price kicked off last week by hitting $1,400, it made a dramatic reversal by Friday, sinking below that benchmark level in what analysts called a response to resurgent dollar.

The metal was trading at $1,366 at troy ounce Friday afternoon.

Also, while gold is generally considered to be trading at historic highs, The New York Times recently argued that the prices have to be looked at “in context.”

“Gold is at a record only if you fail to adjust for inflation,” the newspaper wrote. “And you should almost always adjust for inflation.”

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