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Behind The New Gold Rush44:29
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Jacki Lyden in for Tom Ashbrook.

Gold rush fever. Frightened investors are buying up the yellow metal. Is this a good investment?

The price of gold is at an all-time high. Who is buying it up and why? (digitalmoneyworld/Flickr)
The price of gold is at an all-time high. Who is buying it up and why? (digitalmoneyworld/Flickr)

The golden hour lingers on and on… Gold is higher per ounce than at any time in history as the threat of a default looms.

Some traders have become obsessed with gold — central banks hold onto it and foreign governments, like China and India spend money just to store those 27-pound gold bars.

The Tea Party wants to back the dollar with gold ala 1971—and gold bugs and metal heads are in the news.

But before you go melting down grandma’s wedding ring, consider this: does gold really mean protection?

This hour On Point: our fascination with an age-old metal. Gold.
-Jacki Lyden
Guests:

Gregory Zuckermanm, reporter with the Wall Street Journal.

Sid Mitra, gold analyst at Passport Capital, a $4.8 billion hedge fund.

Steve Hansen, chief executive of GoldFellow.com.

Thomas Frank, columnist Harpers Magazine. He wrote recently about the new Gold rush.

From The Reading List:





This program aired on July 28, 2011.

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