Chart of the week: gold loses its lustre

The amount of cash invested in America’s biggest gold-backed exchange-traded find, the SPDR Gold ETF, is a stark illustration of investors’ growing disenchantment with gold.

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The price of gold has slid to around $1,050 an ounce, its lowest level since February 2010. Gold pays no interest, and so tends to fall if interest rates on other assets are expected to rise.

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MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.