Golden Cycle: Retailers on the Ever-Changing Gold Price

Is the falling price of gold a crisis, an opportunity, or a draw? In the summer of 2011, the price of gold shot to an all-time high of $1,900.30 per ounce. Most of us can remember the feeding frenzy that had been going on since prices ­began to rise in 2008: Cash-for-gold businesses sprouted up like mushrooms ­after a thunderstorm, jewelry owners across the country hosted cocktail parties to trade in unwanted baubles for extra spending ­money, and investors, considering gold a fantastic hedge against debt issues in the United States and Europe, dove right in. Back then, many pundits called the spike a bubble and, indeed, it was. Today, the gold price hovers around $1,200—not nearly as attractive to investors as the strong dollar or the surging U.S. stock market. In fact, within the past six months, the price of gold has decreased 13 percent from a high of $1,353.20 in March to a l

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