Gold Holds Its Own As Media Stocks Collapse
- That hasn’t stopped many gold bears from using this as an opportunity to disparage the yellow metal
- A recent Bloomberg article points out that the gold rout has cost China and Russia $5.4 billion
- An amount that would sound colossal were it not for the fact that U.S. media companies such as Disney and Viacom collectively lost over $60 billion for shareholders in as little as two days last week
- Below are the weekly losses for just a handful of those companies. Compared to many other asset classes, gold has held up well, even after factoring in its price decline