Gold Prices Plunge to $1600 Per Ounce

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For months gold had been on a fantastic run, but last week gold prices plunged 9.6 percent, and then Monday another 2 percent, to $1,600 an ounce. Investors usually consider gold a safe bet, but they may not think of them that way anymore.

Louise Story, Wall Street and finance reporter for The New York Times, discusses why prices are dropping and whether betting on gold is still a sure thing.