Gold investors are betting that it’s 2008 all over again

Gold’s haven reputation took a serious beating, with prices tumbling as investors sought to free up cash amid a broad and devastating market rout.

Sound familiar?

Sure, it’s the story of gold for much of this month. But that’s only half the answer. It’s also a scenario that played out in the depths of the 2008 global financial crisis, right before gold started a years-long rally that culminated in the 2011 price record still in place today.