Word: goldings
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Dates: during 2000-2009
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...parallel, much of oil's decline in prices since the summer was spurred by speculators unwinding their positions, as they needed to liquidate to cover losses. But gold prices have not followed oil prices downhill. It is clear that new money has entered the gold market. Many who sold their stocks and other assets have reallocated into the gold market, instead of leaving it to cover losses...
There is something else we use every day that, like gold, has no inherent value: cash. Of course, there's a major difference between gold and cash: unlike the dollar, the nondollar value of gold won't be significantly impacted by the U.S. government - only its price in dollars via the government's impact on the dollar...
...currency explains why gold has not yet made a clear jump above the historic high set a year ago - in U.S. dollars, that is. The dollar has appreciated enormously during the global economic slowdown. All else being equal, this lowers the price of gold for U.S. investors buying with dollars...
Independent of the dollar, gold has actually increased considerably in value. Indeed, the prices of gold in euros, British pounds and Canadian dollars set their record highs, by a large margin...
...supply of gold is also a factor in pricing. Many investors holding gold reserves have faced losses in their other assets, which would have led them to sell their gold. Ordinary people, too, have motive to sell their gold jewelry during a recession, which should increase the supply of gold on the open market and impede a price hike...