Gold is no longer a hedge against stock market volatility

The Fidelity Select Gold fund (FSAGX, change: -3.68%) dropped into bearish territory as the gold bullion sold off on high volume.

The Fidelity Select Gold fund (FSAGX, change: -3.68%) dropped into bearish territory today, as the gold bullion sold off on high volume mirroring the sell off in global equities. In the last three months, gold investments did not offer a hedge against stock market declines.

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