04/12/2013 08:23 am ET Updated Jun 12, 2013

Paul Krugman: America's Gold Obsession Isn't Going Away

News flash: Recent declines in the price of gold, which is off about 17 percent from its peak, show that this price can go down as well as up. You may consider this an obvious point, but, as an article in The Times on Thursday reports, it has come as a rude shock to many small gold investors, who imagined that they were buying the safest of all assets.

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