It was as if gold was taking a lesson from Bitcoin the day before, and for once you couldn’t blame North Korea.
On Thursday, the electronic currency plummeted to about $50 after hitting a Wednesday high of about $260.
“What did they think?” chuckled someone at a business news meeting I attended. “Bitcoins have no real value. They are just an imaginary currency.”
Fast forward to Friday. Gold plummets $30 before North American markets open and another $30 by mid-morning, bumping along around $1,500. That is a 21-month low and well off the $1,700 level it hit last October. Read More…