They call it yellow metal. And investors are just mad about its enormous returns in the last two years. But the bull market for gold could be in jeopardy now that a clear path to war has been determined and the U.S. has begun its air assault on Baghdad.
Gold has long been considered a safe haven for investors in times of political and economic strife, serving as a more sensible alternative to buying stocks or hoarding cash under the mattress. Given the string of negative events the economy has weathered - the bursting of the technology bubble, the wave of corporate scandals, the collapse of the World Trade Center and the looming war investors were sent running for cover. Desperately seeking shelter from the storm, investors fled to government bonds and gold.